In this “EquityShort” Dr. Tribe considers a breach of fiduciary duty and the use of a constructive trust in IDC v. Cooley. Filmed on location outside Ainscough FlourMill in Burscough, West Lancashire, Dr. Tribe shows how an architect breached his fiduciary duty and that a constructive trust was therefore used by Roskill, J (as he then was) to ensure that Cooley did not take a corporate opportunity, something that would have been a breach of his fiduciary duty to the company.
Twitter:
@elearninglpool

published:25 Nov 2016

views:482

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY pronunciation - FIDUCIARY definition - FIDUCIARY explanation - How to pronounce FIDUCIARY?
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
—?Lord Millett, Bristol and West Building Society v Mothew
A fiduciary duty is the highest standard of care at either equity or law. A fiduciary (abbreviation fid) is expected to be extremely loyal to the person to whom he owes the duty (the "principal"): such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary (unless the principal consents). The nature of fiduciary obligations differ among jurisdictions. In Australia, only proscriptive or negative fiduciary obligations are recognised, whereas in Canada fiduciaries can come under both proscriptive and prescriptive (positive) fiduciary obligations.
In English common law, the fiduciary relation is an important concept within a part of the legal system known as equity. In theUnited Kingdom, the Judicature Acts merged the courts of equity (historically based in England'sCourt of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became applicable in common law courts.
When a fiduciary duty is imposed, equity requires a different, stricter, standard of behavior than the comparable tortious duty of care at common law. The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from his fiduciary position without knowledge and consent. A fiduciary ideally would not have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd" and that "he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty".

published:03 Oct 2016

views:4748

Filmed on location outside AnfieldFootball Stadium, this “EquityShort” features Dr. Tribe discussing this key authority on the deployment of constructive trusts in the context of a breach of a fiduciary duty owed to a company. Dr. Tribe demonstrates how the diversion of a potential corporate opportunity could give rise to the use of a constructive trust.
Twitter:
@elearninglpool

published:25 Nov 2016

views:552

Certainty of objects is more about the people who are the beneficiaries of a trust instrument rather than the physical objects that make up a trust.
We have to examine the different types of trust:
Fixed trusts are simple because they clearly identify the beneficiaries.
Fiduciary mere powers give trustees a power without the obligation to actually use that power. As far as the certainty of objects is concerned we have the is or is not test from Re Gulbenkian [1968] but this raises problems around a small percentage of postulants where there is uncertainty. Lord Browne-Wilkinson attempted to resolve this in Re. Barlow [1979] by seeing the benefits as a series of identical, individual gifts.
Discretionary trusts are not truly discretionary as they require a trustee to exercise their power. McPhail v Doulton [1975] applied the is or is not test but in Re. Baden (No. 2) [1973] the justices attempted to resolve the uncertainty issue:
Sachs LJ: Onus is on the apparent beneficiary
Megaw LJ: Trust can still be valid with minor uncertainties
Holders of personal powers are not subject to a fiduciary duty and so certainty of objects does not apply; Megarry VC in Re. Hay’s ST [1981].
There are some grey phrases and areas of language worth examining closely:
'Friends'
Generally uncertain; Brown v Gould [1972]
BUT Re. Baden (No. 2) [1973]
'Customers'
Uncertain; Sparfax v Dommett [1972]
'Relatives'
Statutory next of kin; McPhail v Doulton [1970]
There are also ways of resolving uncertainty:
Using experts
Re. Tuck’s ST [1978]
Rules that set out how to define beneficiaries
Re. Wright’s WT [1857]
Administratively workable
Re. Hay’s ST [1982]
There also has to be consideration of partial failure of trusts on grounds of uncertainty:
Generally where a trust partially fails the whole trust fails
Re. Gulbenkian [1968]
Remove the uncertain clause of the instrument
Re. Leek [1969]
Courts will always try to validate a trust where possible to do so
Harman J in Re. Gestetner [1953]

published:18 Feb 2017

views:4668

Filmed on location on the roof of the Royal Liver Building (RLB) and in the boardroom of the RLB this video examines the nature of discretionary trusts. In particular we focus on a fictitious trust where the objects are the “inhabitants of Merseyside” What does this mean and how can we say with sufficient certainty that an object is such a resident. We then explore other related terms of art such as employee, friend, etc in the context of McPhail and the court's’ method for answering such questions.
Twitter:
@elearninglpool

published:24 Nov 2016

views:1154

CA Dhruv Agrawal,B.com.,LLB,FCA,CS,AIIA(USA) Co chairman Interntional Council of jurists,London , has a unique distinction of qualifying Chartered Accountancy at the youngest age of nineteen years. He was instrumental in getting amendment for the CA Act in Parliament in 1988. He was invited by ministry of law of Thailand for making judiciary of Thailand independent along with advocate generals and other legal personalities of India and has the privilege of addressing Thailand's legal personalities in front of king of Thailand. He has been awaded scroll of Honour by Chief Justice of UK in 2009.

published:30 Jan 2015

views:30746

In this 4-minute funny cartoon video, Gaslowitz Frankel LLChttp://www.GaslowitzFrankel.com explains the meaning of the services it provides and how it is valuable to you. Read the full script below:
Most of us own things like cars, houses, stock, as well as life insurance or retirement accounts. They are referred to as assets. When we pass away, these assets are known as our estate.
Usually, people choose to leave their estate to family and friends. To identify who gets what, they write wills or create trusts.
Whoever gets a share of an estate or trust is called a beneficiary. The person appointed to transfer an estate or trust to the beneficiaries is called an executor or a trustee.
MeetNancy Smith and her brothers, John and David. After their mom passed away, Nancy and John helped take care of their elderly father as much as they could. They both lived out of town and had families and full-time jobs. David was single and lived close to their Dad. He did not have a stable job, so Dad helped support him and pay his bills. With age, Dad's memory got worse and he began to rely on David more and more. Eventually, David got their father to sign a power of attorney, which enabled him to authorize Dad's checks and even transfer some of his assets.
After Dad died, it turned out that David was named the Executor of the will, so he was responsible for collecting all of Dad's property and distributing his estate to all the beneficiaries. When Nancy and John asked David what was in the estate, he just ignored them.
Eventually, David became impossible to communicate with. Though the will appeared to leave the estate to the three of them equally, David said there were almost no assets left at the time of Dad's death. Now, Nancy and John were not only grieving the loss of their father -- they were also alarmed by their brother's secretive behavior.
After talking to a friend, Nancy discovered that there was a litigation law firm called Gaslowitz Frankel LLC that specialized in helping people protect their inheritance rights.
John's company lawyer mentioned the same law firm as being one of the country's best at solving estate and trust litigation problems.
A quick Internet search revealed that Gaslowitz Frankel LLC was selected a Best Law Firm in Georgia in Trust and Estate Litigation, and Adam Gaslowitz and Craig Frankel have been widely recognized by their peers and the media as leaders in trust and estate litigation. Adam Gaslowitz also was listed in the Guide to the World's Leading Trust and Estate Litigators.
For over 25 years attorneys at Gaslowitz Frankel LLC have specialized in a very unique area of law -- fiduciary litigation: will, estate, and trust disputes.
Nancy and John realized that to have the law work for them, they needed a lawyer who specialized in fiduciary litigation. They called Gaslowitz Frankel LLC and shared their problem with an attorney who listened and understood.
They learned that David had a fiduciary duty, a legal responsibility, to them, and that there were laws to protect their inheritance rights. Hiring Gaslowitz Frankel LLC gave them peace of mind and confidence that the best attorneys were protecting their rights.
David was forced to account for all of the assets in Dad's estate, though he had already spent some of them. He was also removed as Executor to prevent further losses, and remaining assets were distributed appropriately. While happy with the outcome, Nancy and John regretted not hiring Gaslowitz Frankel LLC sooner, before David had the chance to take advantage of their father.
If you ever have a dispute over a will or trust, either as an executor, trustee, or beneficiary, become involved in a contested guardianship or conservatorship, discover an abuse of a power of attorney, or face a business or financial dispute among partners, shareholders, or investors, call Gaslowitz Frankel LLC at 404-892-9797. The sooner you act, the better!
For more information visit:
www.GaslowitzFrankel.com
twitter.com/EstateDispute
facebook.com/EstateDispute

published:20 Jun 2014

views:5713

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in the 12th century.
Within a trust there is a settlor who commences the trust and originally has absolute ownership. Ownership then splits between a trustee who takes legal title and a beneficiary who takes an equitable interest.
There are three different types of trust: express, resulting and constructive trusts.
Express trusts are set out in agreements. Resulting trusts are implied by the court where either the beneficiaries are not clearly defined by an agreement or where a contribution has been made towards the purchase price of property. Constructive trusts exist in order to prevent wrongdoing and abuse of the fiduciary duty.
The different formats of a trust are bare trusts and fixed trusts (for a set number of beneficiaries) and discretionary trusts where the trustee has an active role in making decisions based on an uncertain future.
Trusts are used in a variety of situations such as wills, in business and even for tax avoidance purposes.
They have played a significant role in popular culture in books such as Pride and Prejudice by Jane Austen, Bleak House by Charles Dickens and Pamela by Samuel Richardson.

published:09 Oct 2016

views:13999

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning - EQUITABLE REMEDY definition - EQUITABLE REMEDY explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VII to provide more flexible responses to changing social conditions than was possible in precedent-based common law.
Equitable remedies were granted by the Court of Chancery in England, and remain available today in most common law jurisdictions. In many jurisdictions, legal and equitable remedies have been merged and a single court can issue either, or both, remedies. Despite widespread judicial merger, the distinction between equitable and legal remedies remains relevant in a number of significant instances. Notably, the United States Constitution'sSeventh Amendment preserves the right to a jury, trial rights in civil cases over $20 to cases "at common law".
The distinction between types of relief granted by the courts is due to the courts of equity, such as the Court of Chancery in England, and still available today in common law jurisdictions. Equity is said to operate on the conscience of the defendant, so an equitable remedy is always directed at a particular person, and that person's knowledge, state of mind and motives may be relevant to whether a remedy should be granted or not.
Equitable remedies are distinguished from "legal" remedies (which are available to a successful claimant as of right) by the discretion of the court to grant them. In common law jurisdictions, there are a variety of equitable remedies, but the principal remedies are:
injunction; specific performance; account of profits; rescission; declaratory relief; rectification; equitable estoppel; certain proprietary remedies, such as constructive trusts; subrogation; in very specific circumstances, an equitable lien; equitable compensation; Appointment or removal of fiduciary; Interpleader.
The two main equitable remedies are injunctions and specific performance, and in casual legal parlance references to equitable remedies are often expressed as referring to those two remedies alone. Injunctions may be mandatory (requiring a person to do something) or prohibitory (stopping them doing something). Specific performance requires a party to perform a contract, for example by transferring a piece of land to the claimant. The award of specific performance requires that the two following criteria must be satisfied: (i) Common law damages must be an inadequate remedy. For instance, when damages for a breach of contract found in favour of a third party are an inadequate remedy. (ii) No bars to equitable relief prevent specific performance. A bar to relief arises for example, when the court's continuous supervision of the defendant is not feasible.

published:09 Feb 2017

views:3078

Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips.
Connect with Last Week Tonight online...
Subscribe to the Last Week Tonight YouTube channel for more almost news as it almost happens: www.youtube.com/user/LastWeekTonight
Find Last Week Tonight on Facebook like your mom would:
http://Facebook.com/LastWeekTonight
Follow us on Twitter for news about jokes and jokes about news:
http://Twitter.com/LastWeekTonight
Visit our official site for all that other stuff at once:
http://www.hbo.com/lastweektonight

published:13 Jun 2016

views:7657209

Fixed trusts and distribution amongst objects makes up the subject matter of this next authority with the certainty of objects area.
Twitter:
@elearninglpool

Oliver has said that he has full creative freedom, including free rein to criticize corporations. His initial contract with HBO was for two years with an option for extension. In February 2015, it was announced that the show has been renewed for two additional seasons of 35 episodes each. Oliver and HBO programming president Michael Lombardo have discussed extending the show from half an hour to a full hour and airing more than once a week after Oliver "gets his feet under him".

In this “EquityShort” Dr. Tribe considers a breach of fiduciary duty and the use of a constructive trust in IDC v. Cooley. Filmed on location outside Ainscough FlourMill in Burscough, West Lancashire, Dr. Tribe shows how an architect breached his fiduciary duty and that a constructive trust was therefore used by Roskill, J (as he then was) to ensure that Cooley did not take a corporate opportunity, something that would have been a breach of his fiduciary duty to the company.
Twitter:
@elearninglpool

3:31

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY definition - How to pronounce FIDUCIARY

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY definition - How to pronounce FIDUCIARY

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY definition - How to pronounce FIDUCIARY

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY pronunciation - FIDUCIARY definition - FIDUCIARY explanation - How to pronounce FIDUCIARY?
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
—?Lord Millett, Bristol and West Building Society v Mothew
A fiduciary duty is the highest standard of care at either equity or law. A fiduciary (abbreviation fid) is expected to be extremely loyal to the person to whom he owes the duty (the "principal"): such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary (unless the principal consents). The nature of fiduciary obligations differ among jurisdictions. In Australia, only proscriptive or negative fiduciary obligations are recognised, whereas in Canada fiduciaries can come under both proscriptive and prescriptive (positive) fiduciary obligations.
In English common law, the fiduciary relation is an important concept within a part of the legal system known as equity. In theUnited Kingdom, the Judicature Acts merged the courts of equity (historically based in England'sCourt of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became applicable in common law courts.
When a fiduciary duty is imposed, equity requires a different, stricter, standard of behavior than the comparable tortious duty of care at common law. The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from his fiduciary position without knowledge and consent. A fiduciary ideally would not have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd" and that "he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty".

Filmed on location outside AnfieldFootball Stadium, this “EquityShort” features Dr. Tribe discussing this key authority on the deployment of constructive trusts in the context of a breach of a fiduciary duty owed to a company. Dr. Tribe demonstrates how the diversion of a potential corporate opportunity could give rise to the use of a constructive trust.
Twitter:
@elearninglpool

12:25

Equity & Trusts - Three Certainties: Objects

Equity & Trusts - Three Certainties: Objects

Equity & Trusts - Three Certainties: Objects

Certainty of objects is more about the people who are the beneficiaries of a trust instrument rather than the physical objects that make up a trust.
We have to examine the different types of trust:
Fixed trusts are simple because they clearly identify the beneficiaries.
Fiduciary mere powers give trustees a power without the obligation to actually use that power. As far as the certainty of objects is concerned we have the is or is not test from Re Gulbenkian [1968] but this raises problems around a small percentage of postulants where there is uncertainty. Lord Browne-Wilkinson attempted to resolve this in Re. Barlow [1979] by seeing the benefits as a series of identical, individual gifts.
Discretionary trusts are not truly discretionary as they require a trustee to exercise their power. McPhail v Doulton [1975] applied the is or is not test but in Re. Baden (No. 2) [1973] the justices attempted to resolve the uncertainty issue:
Sachs LJ: Onus is on the apparent beneficiary
Megaw LJ: Trust can still be valid with minor uncertainties
Holders of personal powers are not subject to a fiduciary duty and so certainty of objects does not apply; Megarry VC in Re. Hay’s ST [1981].
There are some grey phrases and areas of language worth examining closely:
'Friends'
Generally uncertain; Brown v Gould [1972]
BUT Re. Baden (No. 2) [1973]
'Customers'
Uncertain; Sparfax v Dommett [1972]
'Relatives'
Statutory next of kin; McPhail v Doulton [1970]
There are also ways of resolving uncertainty:
Using experts
Re. Tuck’s ST [1978]
Rules that set out how to define beneficiaries
Re. Wright’s WT [1857]
Administratively workable
Re. Hay’s ST [1982]
There also has to be consideration of partial failure of trusts on grounds of uncertainty:
Generally where a trust partially fails the whole trust fails
Re. Gulbenkian [1968]
Remove the uncertain clause of the instrument
Re. Leek [1969]
Courts will always try to validate a trust where possible to do so
Harman J in Re. Gestetner [1953]

13:28

Equity Short: Mcphail v. Doulton

Equity Short: Mcphail v. Doulton

Equity Short: Mcphail v. Doulton

Filmed on location on the roof of the Royal Liver Building (RLB) and in the boardroom of the RLB this video examines the nature of discretionary trusts. In particular we focus on a fictitious trust where the objects are the “inhabitants of Merseyside” What does this mean and how can we say with sufficient certainty that an object is such a resident. We then explore other related terms of art such as employee, friend, etc in the context of McPhail and the court's’ method for answering such questions.
Twitter:
@elearninglpool

31:51

indian trust act by ca dhruv agrawal

indian trust act by ca dhruv agrawal

indian trust act by ca dhruv agrawal

CA Dhruv Agrawal,B.com.,LLB,FCA,CS,AIIA(USA) Co chairman Interntional Council of jurists,London , has a unique distinction of qualifying Chartered Accountancy at the youngest age of nineteen years. He was instrumental in getting amendment for the CA Act in Parliament in 1988. He was invited by ministry of law of Thailand for making judiciary of Thailand independent along with advocate generals and other legal personalities of India and has the privilege of addressing Thailand's legal personalities in front of king of Thailand. He has been awaded scroll of Honour by Chief Justice of UK in 2009.

3:59

What is Fiduciary Litigation? Answered as a Short Story

What is Fiduciary Litigation? Answered as a Short Story

What is Fiduciary Litigation? Answered as a Short Story

In this 4-minute funny cartoon video, Gaslowitz Frankel LLChttp://www.GaslowitzFrankel.com explains the meaning of the services it provides and how it is valuable to you. Read the full script below:
Most of us own things like cars, houses, stock, as well as life insurance or retirement accounts. They are referred to as assets. When we pass away, these assets are known as our estate.
Usually, people choose to leave their estate to family and friends. To identify who gets what, they write wills or create trusts.
Whoever gets a share of an estate or trust is called a beneficiary. The person appointed to transfer an estate or trust to the beneficiaries is called an executor or a trustee.
MeetNancy Smith and her brothers, John and David. After their mom passed away, Nancy and John helped take care of their elderly father as much as they could. They both lived out of town and had families and full-time jobs. David was single and lived close to their Dad. He did not have a stable job, so Dad helped support him and pay his bills. With age, Dad's memory got worse and he began to rely on David more and more. Eventually, David got their father to sign a power of attorney, which enabled him to authorize Dad's checks and even transfer some of his assets.
After Dad died, it turned out that David was named the Executor of the will, so he was responsible for collecting all of Dad's property and distributing his estate to all the beneficiaries. When Nancy and John asked David what was in the estate, he just ignored them.
Eventually, David became impossible to communicate with. Though the will appeared to leave the estate to the three of them equally, David said there were almost no assets left at the time of Dad's death. Now, Nancy and John were not only grieving the loss of their father -- they were also alarmed by their brother's secretive behavior.
After talking to a friend, Nancy discovered that there was a litigation law firm called Gaslowitz Frankel LLC that specialized in helping people protect their inheritance rights.
John's company lawyer mentioned the same law firm as being one of the country's best at solving estate and trust litigation problems.
A quick Internet search revealed that Gaslowitz Frankel LLC was selected a Best Law Firm in Georgia in Trust and Estate Litigation, and Adam Gaslowitz and Craig Frankel have been widely recognized by their peers and the media as leaders in trust and estate litigation. Adam Gaslowitz also was listed in the Guide to the World's Leading Trust and Estate Litigators.
For over 25 years attorneys at Gaslowitz Frankel LLC have specialized in a very unique area of law -- fiduciary litigation: will, estate, and trust disputes.
Nancy and John realized that to have the law work for them, they needed a lawyer who specialized in fiduciary litigation. They called Gaslowitz Frankel LLC and shared their problem with an attorney who listened and understood.
They learned that David had a fiduciary duty, a legal responsibility, to them, and that there were laws to protect their inheritance rights. Hiring Gaslowitz Frankel LLC gave them peace of mind and confidence that the best attorneys were protecting their rights.
David was forced to account for all of the assets in Dad's estate, though he had already spent some of them. He was also removed as Executor to prevent further losses, and remaining assets were distributed appropriately. While happy with the outcome, Nancy and John regretted not hiring Gaslowitz Frankel LLC sooner, before David had the chance to take advantage of their father.
If you ever have a dispute over a will or trust, either as an executor, trustee, or beneficiary, become involved in a contested guardianship or conservatorship, discover an abuse of a power of attorney, or face a business or financial dispute among partners, shareholders, or investors, call Gaslowitz Frankel LLC at 404-892-9797. The sooner you act, the better!
For more information visit:
www.GaslowitzFrankel.com
twitter.com/EstateDispute
facebook.com/EstateDispute

20:03

Introduction to Trusts Law

Introduction to Trusts Law

Introduction to Trusts Law

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in the 12th century.
Within a trust there is a settlor who commences the trust and originally has absolute ownership. Ownership then splits between a trustee who takes legal title and a beneficiary who takes an equitable interest.
There are three different types of trust: express, resulting and constructive trusts.
Express trusts are set out in agreements. Resulting trusts are implied by the court where either the beneficiaries are not clearly defined by an agreement or where a contribution has been made towards the purchase price of property. Constructive trusts exist in order to prevent wrongdoing and abuse of the fiduciary duty.
The different formats of a trust are bare trusts and fixed trusts (for a set number of beneficiaries) and discretionary trusts where the trustee has an active role in making decisions based on an uncertain future.
Trusts are used in a variety of situations such as wills, in business and even for tax avoidance purposes.
They have played a significant role in popular culture in books such as Pride and Prejudice by Jane Austen, Bleak House by Charles Dickens and Pamela by Samuel Richardson.

3:20

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning - EQUITABLE REMEDY definition - EQUITABLE REMEDY explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VII to provide more flexible responses to changing social conditions than was possible in precedent-based common law.
Equitable remedies were granted by the Court of Chancery in England, and remain available today in most common law jurisdictions. In many jurisdictions, legal and equitable remedies have been merged and a single court can issue either, or both, remedies. Despite widespread judicial merger, the distinction between equitable and legal remedies remains relevant in a number of significant instances. Notably, the United States Constitution'sSeventh Amendment preserves the right to a jury, trial rights in civil cases over $20 to cases "at common law".
The distinction between types of relief granted by the courts is due to the courts of equity, such as the Court of Chancery in England, and still available today in common law jurisdictions. Equity is said to operate on the conscience of the defendant, so an equitable remedy is always directed at a particular person, and that person's knowledge, state of mind and motives may be relevant to whether a remedy should be granted or not.
Equitable remedies are distinguished from "legal" remedies (which are available to a successful claimant as of right) by the discretion of the court to grant them. In common law jurisdictions, there are a variety of equitable remedies, but the principal remedies are:
injunction; specific performance; account of profits; rescission; declaratory relief; rectification; equitable estoppel; certain proprietary remedies, such as constructive trusts; subrogation; in very specific circumstances, an equitable lien; equitable compensation; Appointment or removal of fiduciary; Interpleader.
The two main equitable remedies are injunctions and specific performance, and in casual legal parlance references to equitable remedies are often expressed as referring to those two remedies alone. Injunctions may be mandatory (requiring a person to do something) or prohibitory (stopping them doing something). Specific performance requires a party to perform a contract, for example by transferring a piece of land to the claimant. The award of specific performance requires that the two following criteria must be satisfied: (i) Common law damages must be an inadequate remedy. For instance, when damages for a breach of contract found in favour of a third party are an inadequate remedy. (ii) No bars to equitable relief prevent specific performance. A bar to relief arises for example, when the court's continuous supervision of the defendant is not feasible.

21:30

Retirement Plans: Last Week Tonight with John Oliver (HBO)

Retirement Plans: Last Week Tonight with John Oliver (HBO)

Retirement Plans: Last Week Tonight with John Oliver (HBO)

Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips.
Connect with Last Week Tonight online...
Subscribe to the Last Week Tonight YouTube channel for more almost news as it almost happens: www.youtube.com/user/LastWeekTonight
Find Last Week Tonight on Facebook like your mom would:
http://Facebook.com/LastWeekTonight
Follow us on Twitter for news about jokes and jokes about news:
http://Twitter.com/LastWeekTonight
Visit our official site for all that other stuff at once:
http://www.hbo.com/lastweektonight

6:19

Equity Short: IRC v. Broadway Cottages Trusts

Equity Short: IRC v. Broadway Cottages Trusts

Equity Short: IRC v. Broadway Cottages Trusts

Fixed trusts and distribution amongst objects makes up the subject matter of this next authority with the certainty of objects area.
Twitter:
@elearninglpool

1:37

Golden Years Advisors - What It Means To Be A Fiduciary

Golden Years Advisors - What It Means To Be A Fiduciary

Golden Years Advisors - What It Means To Be A Fiduciary

3:47

Equity Short: Barclays Bank v. Quistclose Investments Ltd

Equity Short: Barclays Bank v. Quistclose Investments Ltd

Equity Short: Barclays Bank v. Quistclose Investments Ltd

Filmed on location at the Royal Liver Building in the Company Secretary’s office, this case is used to illustrate the deployment of trusts in a commercial environment. The case is very important particularly when considering how trusts might be used in the commercial context to outfox the general body of creditors. In this case we see the deployment of a purpose trust, i.e. if money is lent for a specific purpose and it is not used for that purpose (i.e. paying a dividend) then the interest in the money will remain with the lender. This therefore removes the money from the company’s estate meaning it is not available for the general body of creditors.
More to come. Click to subscribe.
Twitter:
@elearninglpool

Fiduciary Duties - UK Equity and Trusts Law

In this “EquityShort” Dr. Tribe considers a breach of fiduciary duty and the use of a constructive trust in IDC v. Cooley. Filmed on location outside Ainscough FlourMill in Burscough, West Lancashire, Dr. Tribe shows how an architect breached his fiduciary duty and that a constructive trust was therefore used by Roskill, J (as he then was) to ensure that Cooley did not take a corporate opportunity, something that would have been a breach of his fiduciary duty to the company.
Twitter:
@elearninglpool

published: 25 Nov 2016

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY definition - How to pronounce FIDUCIARY

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY pronunciation - FIDUCIARY definition - FIDUCIARY explanation - How to pronounce FIDUCIARY?
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered f...

Filmed on location outside AnfieldFootball Stadium, this “EquityShort” features Dr. Tribe discussing this key authority on the deployment of constructive trusts in the context of a breach of a fiduciary duty owed to a company. Dr. Tribe demonstrates how the diversion of a potential corporate opportunity could give rise to the use of a constructive trust.
Twitter:
@elearninglpool

published: 25 Nov 2016

Equity & Trusts - Three Certainties: Objects

Certainty of objects is more about the people who are the beneficiaries of a trust instrument rather than the physical objects that make up a trust.
We have to examine the different types of trust:
Fixed trusts are simple because they clearly identify the beneficiaries.
Fiduciary mere powers give trustees a power without the obligation to actually use that power. As far as the certainty of objects is concerned we have the is or is not test from Re Gulbenkian [1968] but this raises problems around a small percentage of postulants where there is uncertainty. Lord Browne-Wilkinson attempted to resolve this in Re. Barlow [1979] by seeing the benefits as a series of identical, individual gifts.
Discretionary trusts are not truly discretionary as they require a trustee to exercise their powe...

published: 18 Feb 2017

Equity Short: Mcphail v. Doulton

Filmed on location on the roof of the Royal Liver Building (RLB) and in the boardroom of the RLB this video examines the nature of discretionary trusts. In particular we focus on a fictitious trust where the objects are the “inhabitants of Merseyside” What does this mean and how can we say with sufficient certainty that an object is such a resident. We then explore other related terms of art such as employee, friend, etc in the context of McPhail and the court's’ method for answering such questions.
Twitter:
@elearninglpool

published: 24 Nov 2016

indian trust act by ca dhruv agrawal

CA Dhruv Agrawal,B.com.,LLB,FCA,CS,AIIA(USA) Co chairman Interntional Council of jurists,London , has a unique distinction of qualifying Chartered Accountancy at the youngest age of nineteen years. He was instrumental in getting amendment for the CA Act in Parliament in 1988. He was invited by ministry of law of Thailand for making judiciary of Thailand independent along with advocate generals and other legal personalities of India and has the privilege of addressing Thailand's legal personalities in front of king of Thailand. He has been awaded scroll of Honour by Chief Justice of UK in 2009.

published: 30 Jan 2015

What is Fiduciary Litigation? Answered as a Short Story

In this 4-minute funny cartoon video, Gaslowitz Frankel LLChttp://www.GaslowitzFrankel.com explains the meaning of the services it provides and how it is valuable to you. Read the full script below:
Most of us own things like cars, houses, stock, as well as life insurance or retirement accounts. They are referred to as assets. When we pass away, these assets are known as our estate.
Usually, people choose to leave their estate to family and friends. To identify who gets what, they write wills or create trusts.
Whoever gets a share of an estate or trust is called a beneficiary. The person appointed to transfer an estate or trust to the beneficiaries is called an executor or a trustee.
MeetNancy Smith and her brothers, John and David. After their mom passed away, Nancy and John helped...

published: 20 Jun 2014

Introduction to Trusts Law

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in the 12th century.
Within a trust there is a settlor who commences the trust and originally has absolute ownership. Ownership then splits between a trustee who takes legal title and a beneficiary who takes an equitable interest.
There are three different types of trust: express, resulting and constructive trusts.
Express trusts are set out in agreements. Resulting trusts are implied by the court where either the beneficiaries are not clearly defined by an agreement or where a contribution has been made towards the purchase price of property. Constructive trusts exist in order to prevent wrongdoing and abuse of the fiduciary duty.
...

published: 09 Oct 2016

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning - EQUITABLE REMEDY definition - EQUITABLE REMEDY explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VII to provide more flexible responses to changing social conditions than was possible in precedent-based common law.
Equitable remedies were granted by the Court of Chancery in England, and remain available today in most common law jurisdictions. In many jurisdictions, legal and equitable remedies have been merged and a single court can issue either, or both, remedies. Despite widespread judicial merger, the distinction between equitable and le...

published: 09 Feb 2017

Retirement Plans: Last Week Tonight with John Oliver (HBO)

Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips.
Connect with Last Week Tonight online...
Subscribe to the Last Week Tonight YouTube channel for more almost news as it almost happens: www.youtube.com/user/LastWeekTonight
Find Last Week Tonight on Facebook like your mom would:
http://Facebook.com/LastWeekTonight
Follow us on Twitter for news about jokes and jokes about news:
http://Twitter.com/LastWeekTonight
Visit our official site for all that other stuff at once:
http://www.hbo.com/lastweektonight

published: 13 Jun 2016

Equity Short: IRC v. Broadway Cottages Trusts

Fixed trusts and distribution amongst objects makes up the subject matter of this next authority with the certainty of objects area.
Twitter:
@elearninglpool

published: 24 Nov 2016

Golden Years Advisors - What It Means To Be A Fiduciary

published: 22 Feb 2018

Equity Short: Barclays Bank v. Quistclose Investments Ltd

Filmed on location at the Royal Liver Building in the Company Secretary’s office, this case is used to illustrate the deployment of trusts in a commercial environment. The case is very important particularly when considering how trusts might be used in the commercial context to outfox the general body of creditors. In this case we see the deployment of a purpose trust, i.e. if money is lent for a specific purpose and it is not used for that purpose (i.e. paying a dividend) then the interest in the money will remain with the lender. This therefore removes the money from the company’s estate meaning it is not available for the general body of creditors.
More to come. Click to subscribe.
Twitter:
@elearninglpool

In this “EquityShort” Dr. Tribe considers a breach of fiduciary duty and the use of a constructive trust in IDC v. Cooley. Filmed on location outside Ainscough...

In this “EquityShort” Dr. Tribe considers a breach of fiduciary duty and the use of a constructive trust in IDC v. Cooley. Filmed on location outside Ainscough FlourMill in Burscough, West Lancashire, Dr. Tribe shows how an architect breached his fiduciary duty and that a constructive trust was therefore used by Roskill, J (as he then was) to ensure that Cooley did not take a corporate opportunity, something that would have been a breach of his fiduciary duty to the company.
Twitter:
@elearninglpool

In this “EquityShort” Dr. Tribe considers a breach of fiduciary duty and the use of a constructive trust in IDC v. Cooley. Filmed on location outside Ainscough FlourMill in Burscough, West Lancashire, Dr. Tribe shows how an architect breached his fiduciary duty and that a constructive trust was therefore used by Roskill, J (as he then was) to ensure that Cooley did not take a corporate opportunity, something that would have been a breach of his fiduciary duty to the company.
Twitter:
@elearninglpool

published:25 Nov 2016

views:482

back

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY definition - How to pronounce FIDUCIARY

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY pronunciation - FIDUCIARY definition - FIDUCIARY explanation - How to pronounce FIDUCIARY?
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
—?Lord Millett, Bristol and West Building Society v Mothew
A fiduciary duty is the highest standard of care at either equity or law. A fiduciary (abbreviation fid) is expected to be extremely loyal to the person to whom he owes the duty (the "principal"): such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary (unless the principal consents). The nature of fiduciary obligations differ among jurisdictions. In Australia, only proscriptive or negative fiduciary obligations are recognised, whereas in Canada fiduciaries can come under both proscriptive and prescriptive (positive) fiduciary obligations.
In English common law, the fiduciary relation is an important concept within a part of the legal system known as equity. In theUnited Kingdom, the Judicature Acts merged the courts of equity (historically based in England'sCourt of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became applicable in common law courts.
When a fiduciary duty is imposed, equity requires a different, stricter, standard of behavior than the comparable tortious duty of care at common law. The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from his fiduciary position without knowledge and consent. A fiduciary ideally would not have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd" and that "he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty".

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY pronunciation - FIDUCIARY definition - FIDUCIARY explanation - How to pronounce FIDUCIARY?
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
—?Lord Millett, Bristol and West Building Society v Mothew
A fiduciary duty is the highest standard of care at either equity or law. A fiduciary (abbreviation fid) is expected to be extremely loyal to the person to whom he owes the duty (the "principal"): such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary (unless the principal consents). The nature of fiduciary obligations differ among jurisdictions. In Australia, only proscriptive or negative fiduciary obligations are recognised, whereas in Canada fiduciaries can come under both proscriptive and prescriptive (positive) fiduciary obligations.
In English common law, the fiduciary relation is an important concept within a part of the legal system known as equity. In theUnited Kingdom, the Judicature Acts merged the courts of equity (historically based in England'sCourt of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became applicable in common law courts.
When a fiduciary duty is imposed, equity requires a different, stricter, standard of behavior than the comparable tortious duty of care at common law. The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from his fiduciary position without knowledge and consent. A fiduciary ideally would not have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd" and that "he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty".

Filmed on location outside AnfieldFootball Stadium, this “EquityShort” features Dr. Tribe discussing this key authority on the deployment of constructive trusts in the context of a breach of a fiduciary duty owed to a company. Dr. Tribe demonstrates how the diversion of a potential corporate opportunity could give rise to the use of a constructive trust.
Twitter:
@elearninglpool

Filmed on location outside AnfieldFootball Stadium, this “EquityShort” features Dr. Tribe discussing this key authority on the deployment of constructive trusts in the context of a breach of a fiduciary duty owed to a company. Dr. Tribe demonstrates how the diversion of a potential corporate opportunity could give rise to the use of a constructive trust.
Twitter:
@elearninglpool

Equity & Trusts - Three Certainties: Objects

Certainty of objects is more about the people who are the beneficiaries of a trust instrument rather than the physical objects that make up a trust.
We have to...

Certainty of objects is more about the people who are the beneficiaries of a trust instrument rather than the physical objects that make up a trust.
We have to examine the different types of trust:
Fixed trusts are simple because they clearly identify the beneficiaries.
Fiduciary mere powers give trustees a power without the obligation to actually use that power. As far as the certainty of objects is concerned we have the is or is not test from Re Gulbenkian [1968] but this raises problems around a small percentage of postulants where there is uncertainty. Lord Browne-Wilkinson attempted to resolve this in Re. Barlow [1979] by seeing the benefits as a series of identical, individual gifts.
Discretionary trusts are not truly discretionary as they require a trustee to exercise their power. McPhail v Doulton [1975] applied the is or is not test but in Re. Baden (No. 2) [1973] the justices attempted to resolve the uncertainty issue:
Sachs LJ: Onus is on the apparent beneficiary
Megaw LJ: Trust can still be valid with minor uncertainties
Holders of personal powers are not subject to a fiduciary duty and so certainty of objects does not apply; Megarry VC in Re. Hay’s ST [1981].
There are some grey phrases and areas of language worth examining closely:
'Friends'
Generally uncertain; Brown v Gould [1972]
BUT Re. Baden (No. 2) [1973]
'Customers'
Uncertain; Sparfax v Dommett [1972]
'Relatives'
Statutory next of kin; McPhail v Doulton [1970]
There are also ways of resolving uncertainty:
Using experts
Re. Tuck’s ST [1978]
Rules that set out how to define beneficiaries
Re. Wright’s WT [1857]
Administratively workable
Re. Hay’s ST [1982]
There also has to be consideration of partial failure of trusts on grounds of uncertainty:
Generally where a trust partially fails the whole trust fails
Re. Gulbenkian [1968]
Remove the uncertain clause of the instrument
Re. Leek [1969]
Courts will always try to validate a trust where possible to do so
Harman J in Re. Gestetner [1953]

Certainty of objects is more about the people who are the beneficiaries of a trust instrument rather than the physical objects that make up a trust.
We have to examine the different types of trust:
Fixed trusts are simple because they clearly identify the beneficiaries.
Fiduciary mere powers give trustees a power without the obligation to actually use that power. As far as the certainty of objects is concerned we have the is or is not test from Re Gulbenkian [1968] but this raises problems around a small percentage of postulants where there is uncertainty. Lord Browne-Wilkinson attempted to resolve this in Re. Barlow [1979] by seeing the benefits as a series of identical, individual gifts.
Discretionary trusts are not truly discretionary as they require a trustee to exercise their power. McPhail v Doulton [1975] applied the is or is not test but in Re. Baden (No. 2) [1973] the justices attempted to resolve the uncertainty issue:
Sachs LJ: Onus is on the apparent beneficiary
Megaw LJ: Trust can still be valid with minor uncertainties
Holders of personal powers are not subject to a fiduciary duty and so certainty of objects does not apply; Megarry VC in Re. Hay’s ST [1981].
There are some grey phrases and areas of language worth examining closely:
'Friends'
Generally uncertain; Brown v Gould [1972]
BUT Re. Baden (No. 2) [1973]
'Customers'
Uncertain; Sparfax v Dommett [1972]
'Relatives'
Statutory next of kin; McPhail v Doulton [1970]
There are also ways of resolving uncertainty:
Using experts
Re. Tuck’s ST [1978]
Rules that set out how to define beneficiaries
Re. Wright’s WT [1857]
Administratively workable
Re. Hay’s ST [1982]
There also has to be consideration of partial failure of trusts on grounds of uncertainty:
Generally where a trust partially fails the whole trust fails
Re. Gulbenkian [1968]
Remove the uncertain clause of the instrument
Re. Leek [1969]
Courts will always try to validate a trust where possible to do so
Harman J in Re. Gestetner [1953]

Equity Short: Mcphail v. Doulton

Filmed on location on the roof of the Royal Liver Building (RLB) and in the boardroom of the RLB this video examines the nature of discretionary trusts. In part...

Filmed on location on the roof of the Royal Liver Building (RLB) and in the boardroom of the RLB this video examines the nature of discretionary trusts. In particular we focus on a fictitious trust where the objects are the “inhabitants of Merseyside” What does this mean and how can we say with sufficient certainty that an object is such a resident. We then explore other related terms of art such as employee, friend, etc in the context of McPhail and the court's’ method for answering such questions.
Twitter:
@elearninglpool

Filmed on location on the roof of the Royal Liver Building (RLB) and in the boardroom of the RLB this video examines the nature of discretionary trusts. In particular we focus on a fictitious trust where the objects are the “inhabitants of Merseyside” What does this mean and how can we say with sufficient certainty that an object is such a resident. We then explore other related terms of art such as employee, friend, etc in the context of McPhail and the court's’ method for answering such questions.
Twitter:
@elearninglpool

CA Dhruv Agrawal,B.com.,LLB,FCA,CS,AIIA(USA) Co chairman Interntional Council of jurists,London , has a unique distinction of qualifying Chartered Accountancy at the youngest age of nineteen years. He was instrumental in getting amendment for the CA Act in Parliament in 1988. He was invited by ministry of law of Thailand for making judiciary of Thailand independent along with advocate generals and other legal personalities of India and has the privilege of addressing Thailand's legal personalities in front of king of Thailand. He has been awaded scroll of Honour by Chief Justice of UK in 2009.

CA Dhruv Agrawal,B.com.,LLB,FCA,CS,AIIA(USA) Co chairman Interntional Council of jurists,London , has a unique distinction of qualifying Chartered Accountancy at the youngest age of nineteen years. He was instrumental in getting amendment for the CA Act in Parliament in 1988. He was invited by ministry of law of Thailand for making judiciary of Thailand independent along with advocate generals and other legal personalities of India and has the privilege of addressing Thailand's legal personalities in front of king of Thailand. He has been awaded scroll of Honour by Chief Justice of UK in 2009.

What is Fiduciary Litigation? Answered as a Short Story

In this 4-minute funny cartoon video, Gaslowitz Frankel LLChttp://www.GaslowitzFrankel.com explains the meaning of the services it provides and how it is valua...

In this 4-minute funny cartoon video, Gaslowitz Frankel LLChttp://www.GaslowitzFrankel.com explains the meaning of the services it provides and how it is valuable to you. Read the full script below:
Most of us own things like cars, houses, stock, as well as life insurance or retirement accounts. They are referred to as assets. When we pass away, these assets are known as our estate.
Usually, people choose to leave their estate to family and friends. To identify who gets what, they write wills or create trusts.
Whoever gets a share of an estate or trust is called a beneficiary. The person appointed to transfer an estate or trust to the beneficiaries is called an executor or a trustee.
MeetNancy Smith and her brothers, John and David. After their mom passed away, Nancy and John helped take care of their elderly father as much as they could. They both lived out of town and had families and full-time jobs. David was single and lived close to their Dad. He did not have a stable job, so Dad helped support him and pay his bills. With age, Dad's memory got worse and he began to rely on David more and more. Eventually, David got their father to sign a power of attorney, which enabled him to authorize Dad's checks and even transfer some of his assets.
After Dad died, it turned out that David was named the Executor of the will, so he was responsible for collecting all of Dad's property and distributing his estate to all the beneficiaries. When Nancy and John asked David what was in the estate, he just ignored them.
Eventually, David became impossible to communicate with. Though the will appeared to leave the estate to the three of them equally, David said there were almost no assets left at the time of Dad's death. Now, Nancy and John were not only grieving the loss of their father -- they were also alarmed by their brother's secretive behavior.
After talking to a friend, Nancy discovered that there was a litigation law firm called Gaslowitz Frankel LLC that specialized in helping people protect their inheritance rights.
John's company lawyer mentioned the same law firm as being one of the country's best at solving estate and trust litigation problems.
A quick Internet search revealed that Gaslowitz Frankel LLC was selected a Best Law Firm in Georgia in Trust and Estate Litigation, and Adam Gaslowitz and Craig Frankel have been widely recognized by their peers and the media as leaders in trust and estate litigation. Adam Gaslowitz also was listed in the Guide to the World's Leading Trust and Estate Litigators.
For over 25 years attorneys at Gaslowitz Frankel LLC have specialized in a very unique area of law -- fiduciary litigation: will, estate, and trust disputes.
Nancy and John realized that to have the law work for them, they needed a lawyer who specialized in fiduciary litigation. They called Gaslowitz Frankel LLC and shared their problem with an attorney who listened and understood.
They learned that David had a fiduciary duty, a legal responsibility, to them, and that there were laws to protect their inheritance rights. Hiring Gaslowitz Frankel LLC gave them peace of mind and confidence that the best attorneys were protecting their rights.
David was forced to account for all of the assets in Dad's estate, though he had already spent some of them. He was also removed as Executor to prevent further losses, and remaining assets were distributed appropriately. While happy with the outcome, Nancy and John regretted not hiring Gaslowitz Frankel LLC sooner, before David had the chance to take advantage of their father.
If you ever have a dispute over a will or trust, either as an executor, trustee, or beneficiary, become involved in a contested guardianship or conservatorship, discover an abuse of a power of attorney, or face a business or financial dispute among partners, shareholders, or investors, call Gaslowitz Frankel LLC at 404-892-9797. The sooner you act, the better!
For more information visit:
www.GaslowitzFrankel.com
twitter.com/EstateDispute
facebook.com/EstateDispute

In this 4-minute funny cartoon video, Gaslowitz Frankel LLChttp://www.GaslowitzFrankel.com explains the meaning of the services it provides and how it is valuable to you. Read the full script below:
Most of us own things like cars, houses, stock, as well as life insurance or retirement accounts. They are referred to as assets. When we pass away, these assets are known as our estate.
Usually, people choose to leave their estate to family and friends. To identify who gets what, they write wills or create trusts.
Whoever gets a share of an estate or trust is called a beneficiary. The person appointed to transfer an estate or trust to the beneficiaries is called an executor or a trustee.
MeetNancy Smith and her brothers, John and David. After their mom passed away, Nancy and John helped take care of their elderly father as much as they could. They both lived out of town and had families and full-time jobs. David was single and lived close to their Dad. He did not have a stable job, so Dad helped support him and pay his bills. With age, Dad's memory got worse and he began to rely on David more and more. Eventually, David got their father to sign a power of attorney, which enabled him to authorize Dad's checks and even transfer some of his assets.
After Dad died, it turned out that David was named the Executor of the will, so he was responsible for collecting all of Dad's property and distributing his estate to all the beneficiaries. When Nancy and John asked David what was in the estate, he just ignored them.
Eventually, David became impossible to communicate with. Though the will appeared to leave the estate to the three of them equally, David said there were almost no assets left at the time of Dad's death. Now, Nancy and John were not only grieving the loss of their father -- they were also alarmed by their brother's secretive behavior.
After talking to a friend, Nancy discovered that there was a litigation law firm called Gaslowitz Frankel LLC that specialized in helping people protect their inheritance rights.
John's company lawyer mentioned the same law firm as being one of the country's best at solving estate and trust litigation problems.
A quick Internet search revealed that Gaslowitz Frankel LLC was selected a Best Law Firm in Georgia in Trust and Estate Litigation, and Adam Gaslowitz and Craig Frankel have been widely recognized by their peers and the media as leaders in trust and estate litigation. Adam Gaslowitz also was listed in the Guide to the World's Leading Trust and Estate Litigators.
For over 25 years attorneys at Gaslowitz Frankel LLC have specialized in a very unique area of law -- fiduciary litigation: will, estate, and trust disputes.
Nancy and John realized that to have the law work for them, they needed a lawyer who specialized in fiduciary litigation. They called Gaslowitz Frankel LLC and shared their problem with an attorney who listened and understood.
They learned that David had a fiduciary duty, a legal responsibility, to them, and that there were laws to protect their inheritance rights. Hiring Gaslowitz Frankel LLC gave them peace of mind and confidence that the best attorneys were protecting their rights.
David was forced to account for all of the assets in Dad's estate, though he had already spent some of them. He was also removed as Executor to prevent further losses, and remaining assets were distributed appropriately. While happy with the outcome, Nancy and John regretted not hiring Gaslowitz Frankel LLC sooner, before David had the chance to take advantage of their father.
If you ever have a dispute over a will or trust, either as an executor, trustee, or beneficiary, become involved in a contested guardianship or conservatorship, discover an abuse of a power of attorney, or face a business or financial dispute among partners, shareholders, or investors, call Gaslowitz Frankel LLC at 404-892-9797. The sooner you act, the better!
For more information visit:
www.GaslowitzFrankel.com
twitter.com/EstateDispute
facebook.com/EstateDispute

Introduction to Trusts Law

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in t...

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in the 12th century.
Within a trust there is a settlor who commences the trust and originally has absolute ownership. Ownership then splits between a trustee who takes legal title and a beneficiary who takes an equitable interest.
There are three different types of trust: express, resulting and constructive trusts.
Express trusts are set out in agreements. Resulting trusts are implied by the court where either the beneficiaries are not clearly defined by an agreement or where a contribution has been made towards the purchase price of property. Constructive trusts exist in order to prevent wrongdoing and abuse of the fiduciary duty.
The different formats of a trust are bare trusts and fixed trusts (for a set number of beneficiaries) and discretionary trusts where the trustee has an active role in making decisions based on an uncertain future.
Trusts are used in a variety of situations such as wills, in business and even for tax avoidance purposes.
They have played a significant role in popular culture in books such as Pride and Prejudice by Jane Austen, Bleak House by Charles Dickens and Pamela by Samuel Richardson.

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in the 12th century.
Within a trust there is a settlor who commences the trust and originally has absolute ownership. Ownership then splits between a trustee who takes legal title and a beneficiary who takes an equitable interest.
There are three different types of trust: express, resulting and constructive trusts.
Express trusts are set out in agreements. Resulting trusts are implied by the court where either the beneficiaries are not clearly defined by an agreement or where a contribution has been made towards the purchase price of property. Constructive trusts exist in order to prevent wrongdoing and abuse of the fiduciary duty.
The different formats of a trust are bare trusts and fixed trusts (for a set number of beneficiaries) and discretionary trusts where the trustee has an active role in making decisions based on an uncertain future.
Trusts are used in a variety of situations such as wills, in business and even for tax avoidance purposes.
They have played a significant role in popular culture in books such as Pride and Prejudice by Jane Austen, Bleak House by Charles Dickens and Pamela by Samuel Richardson.

published:09 Oct 2016

views:13999

back

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning - EQUITABLE REMEDY definition - EQUITABLE REMEDY explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VII to provide more flexible responses to changing social conditions than was possible in precedent-based common law.
Equitable remedies were granted by the Court of Chancery in England, and remain available today in most common law jurisdictions. In many jurisdictions, legal and equitable remedies have been merged and a single court can issue either, or both, remedies. Despite widespread judicial merger, the distinction between equitable and legal remedies remains relevant in a number of significant instances. Notably, the United States Constitution'sSeventh Amendment preserves the right to a jury, trial rights in civil cases over $20 to cases "at common law".
The distinction between types of relief granted by the courts is due to the courts of equity, such as the Court of Chancery in England, and still available today in common law jurisdictions. Equity is said to operate on the conscience of the defendant, so an equitable remedy is always directed at a particular person, and that person's knowledge, state of mind and motives may be relevant to whether a remedy should be granted or not.
Equitable remedies are distinguished from "legal" remedies (which are available to a successful claimant as of right) by the discretion of the court to grant them. In common law jurisdictions, there are a variety of equitable remedies, but the principal remedies are:
injunction; specific performance; account of profits; rescission; declaratory relief; rectification; equitable estoppel; certain proprietary remedies, such as constructive trusts; subrogation; in very specific circumstances, an equitable lien; equitable compensation; Appointment or removal of fiduciary; Interpleader.
The two main equitable remedies are injunctions and specific performance, and in casual legal parlance references to equitable remedies are often expressed as referring to those two remedies alone. Injunctions may be mandatory (requiring a person to do something) or prohibitory (stopping them doing something). Specific performance requires a party to perform a contract, for example by transferring a piece of land to the claimant. The award of specific performance requires that the two following criteria must be satisfied: (i) Common law damages must be an inadequate remedy. For instance, when damages for a breach of contract found in favour of a third party are an inadequate remedy. (ii) No bars to equitable relief prevent specific performance. A bar to relief arises for example, when the court's continuous supervision of the defendant is not feasible.

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning - EQUITABLE REMEDY definition - EQUITABLE REMEDY explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VII to provide more flexible responses to changing social conditions than was possible in precedent-based common law.
Equitable remedies were granted by the Court of Chancery in England, and remain available today in most common law jurisdictions. In many jurisdictions, legal and equitable remedies have been merged and a single court can issue either, or both, remedies. Despite widespread judicial merger, the distinction between equitable and legal remedies remains relevant in a number of significant instances. Notably, the United States Constitution'sSeventh Amendment preserves the right to a jury, trial rights in civil cases over $20 to cases "at common law".
The distinction between types of relief granted by the courts is due to the courts of equity, such as the Court of Chancery in England, and still available today in common law jurisdictions. Equity is said to operate on the conscience of the defendant, so an equitable remedy is always directed at a particular person, and that person's knowledge, state of mind and motives may be relevant to whether a remedy should be granted or not.
Equitable remedies are distinguished from "legal" remedies (which are available to a successful claimant as of right) by the discretion of the court to grant them. In common law jurisdictions, there are a variety of equitable remedies, but the principal remedies are:
injunction; specific performance; account of profits; rescission; declaratory relief; rectification; equitable estoppel; certain proprietary remedies, such as constructive trusts; subrogation; in very specific circumstances, an equitable lien; equitable compensation; Appointment or removal of fiduciary; Interpleader.
The two main equitable remedies are injunctions and specific performance, and in casual legal parlance references to equitable remedies are often expressed as referring to those two remedies alone. Injunctions may be mandatory (requiring a person to do something) or prohibitory (stopping them doing something). Specific performance requires a party to perform a contract, for example by transferring a piece of land to the claimant. The award of specific performance requires that the two following criteria must be satisfied: (i) Common law damages must be an inadequate remedy. For instance, when damages for a breach of contract found in favour of a third party are an inadequate remedy. (ii) No bars to equitable relief prevent specific performance. A bar to relief arises for example, when the court's continuous supervision of the defendant is not feasible.

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Filmed on location at the Royal Liver Building in the Company Secretary’s office, this case is used to illustrate the deployment of trusts in a commercial environment. The case is very important particularly when considering how trusts might be used in the commercial context to outfox the general body of creditors. In this case we see the deployment of a purpose trust, i.e. if money is lent for a specific purpose and it is not used for that purpose (i.e. paying a dividend) then the interest in the money will remain with the lender. This therefore removes the money from the company’s estate meaning it is not available for the general body of creditors.
More to come. Click to subscribe.
Twitter:
@elearninglpool

Filmed on location at the Royal Liver Building in the Company Secretary’s office, this case is used to illustrate the deployment of trusts in a commercial environment. The case is very important particularly when considering how trusts might be used in the commercial context to outfox the general body of creditors. In this case we see the deployment of a purpose trust, i.e. if money is lent for a specific purpose and it is not used for that purpose (i.e. paying a dividend) then the interest in the money will remain with the lender. This therefore removes the money from the company’s estate meaning it is not available for the general body of creditors.
More to come. Click to subscribe.
Twitter:
@elearninglpool

indian trust act by ca dhruv agrawal

CA Dhruv Agrawal,B.com.,LLB,FCA,CS,AIIA(USA) Co chairman Interntional Council of jurists,London , has a unique distinction of qualifying Chartered Accountancy at the youngest age of nineteen years. He was instrumental in getting amendment for the CA Act in Parliament in 1988. He was invited by ministry of law of Thailand for making judiciary of Thailand independent along with advocate generals and other legal personalities of India and has the privilege of addressing Thailand's legal personalities in front of king of Thailand. He has been awaded scroll of Honour by Chief Justice of UK in 2009.

published: 30 Jan 2015

Introduction to Trusts Law

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in the 12th century.
Within a trust there is a settlor who commences the trust and originally has absolute ownership. Ownership then splits between a trustee who takes legal title and a beneficiary who takes an equitable interest.
There are three different types of trust: express, resulting and constructive trusts.
Express trusts are set out in agreements. Resulting trusts are implied by the court where either the beneficiaries are not clearly defined by an agreement or where a contribution has been made towards the purchase price of property. Constructive trusts exist in order to prevent wrongdoing and abuse of the fiduciary duty.
...

published: 09 Oct 2016

Retirement Plans: Last Week Tonight with John Oliver (HBO)

Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips.
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published: 13 Jun 2016

What is Fiduciary? | Definition of Fiduciary | Meaning of Fiduciary

What is Fiduciary? | Definition of Fiduciary | Meaning of Fiduciary: A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment.
Likewise, asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reli...

published: 17 Feb 2018

Equity & Trusts - Charities

Charities are an interesting area of study because they bridge the gap between the private and public sector, providing help and assistance to those less well off. Nevertheless this also means that charities need to be accountable and so there is a legislative regime around charities that includes the Charities Act 2011, case law and the Charity Commission.
The charitable trust must be exclusively charitable and so in Blair v Duncan [1902] the phrase "charitable or other purpose" was not allowed to stand. However the courts do take a broad and generous approach in this area as seen in Guild v IRC [1992] where there was an attempt to look at the intention of the charitable trust.
Charities, however, are not allowed to be political and the most famous case in this particular area is Nation...

Fiduciary

A fiduciary is a legal or ethical relationship of trust between two or more parties. Typically, a fiduciary prudently takes care of money for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary t...

John Bogle: Investing in Index Funds and Vanguard

An interview with John C. Bogle, the founder and former CEO of The Vanguard Group. In this interview John discusses actively managed funds and index, arguing why index are superior. John also covers what the non professional should do with his money to get the best investment. 📚 Books by John Bogle and his favourite books are located at the bottom of the description❗
Like if you enjoyed
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VideoSegments:
0:00 Introduction
0:24 What was Vanguard like in 1974?
4:23 Are there people trying to confuse others?
5:26 Diminishment of long term investing
6:36 Anything good about trading?
7:09 What motivating high turnover in portfolio?
8:23 Any active managers doing the right thing?
10:53 How does...

GAMLLCs Greg Rhinehardt and Bernard, Robinson & Company, LLPs KyleCorum cover some common misconceptions many plan sponsors have about their retirement plan at the 2017 NC Fiduciary Summit.
Past performance is not indicative of future results. The opinions expressed are those of GordonAsset Management, LLC (GAM). The opinions referenced are as of the date of publication and are subject to change without notice. This material is for informational purposes only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a security, to adopt a particular investment strategy or strategies, or to invest in any particular sector. Forward-looking statements are not guaranteed. GAM reserves the right to modify its current investment st...

CA Dhruv Agrawal,B.com.,LLB,FCA,CS,AIIA(USA) Co chairman Interntional Council of jurists,London , has a unique distinction of qualifying Chartered Accountancy at the youngest age of nineteen years. He was instrumental in getting amendment for the CA Act in Parliament in 1988. He was invited by ministry of law of Thailand for making judiciary of Thailand independent along with advocate generals and other legal personalities of India and has the privilege of addressing Thailand's legal personalities in front of king of Thailand. He has been awaded scroll of Honour by Chief Justice of UK in 2009.

CA Dhruv Agrawal,B.com.,LLB,FCA,CS,AIIA(USA) Co chairman Interntional Council of jurists,London , has a unique distinction of qualifying Chartered Accountancy at the youngest age of nineteen years. He was instrumental in getting amendment for the CA Act in Parliament in 1988. He was invited by ministry of law of Thailand for making judiciary of Thailand independent along with advocate generals and other legal personalities of India and has the privilege of addressing Thailand's legal personalities in front of king of Thailand. He has been awaded scroll of Honour by Chief Justice of UK in 2009.

Introduction to Trusts Law

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in t...

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in the 12th century.
Within a trust there is a settlor who commences the trust and originally has absolute ownership. Ownership then splits between a trustee who takes legal title and a beneficiary who takes an equitable interest.
There are three different types of trust: express, resulting and constructive trusts.
Express trusts are set out in agreements. Resulting trusts are implied by the court where either the beneficiaries are not clearly defined by an agreement or where a contribution has been made towards the purchase price of property. Constructive trusts exist in order to prevent wrongdoing and abuse of the fiduciary duty.
The different formats of a trust are bare trusts and fixed trusts (for a set number of beneficiaries) and discretionary trusts where the trustee has an active role in making decisions based on an uncertain future.
Trusts are used in a variety of situations such as wills, in business and even for tax avoidance purposes.
They have played a significant role in popular culture in books such as Pride and Prejudice by Jane Austen, Bleak House by Charles Dickens and Pamela by Samuel Richardson.

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in the 12th century.
Within a trust there is a settlor who commences the trust and originally has absolute ownership. Ownership then splits between a trustee who takes legal title and a beneficiary who takes an equitable interest.
There are three different types of trust: express, resulting and constructive trusts.
Express trusts are set out in agreements. Resulting trusts are implied by the court where either the beneficiaries are not clearly defined by an agreement or where a contribution has been made towards the purchase price of property. Constructive trusts exist in order to prevent wrongdoing and abuse of the fiduciary duty.
The different formats of a trust are bare trusts and fixed trusts (for a set number of beneficiaries) and discretionary trusts where the trustee has an active role in making decisions based on an uncertain future.
Trusts are used in a variety of situations such as wills, in business and even for tax avoidance purposes.
They have played a significant role in popular culture in books such as Pride and Prejudice by Jane Austen, Bleak House by Charles Dickens and Pamela by Samuel Richardson.

Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips.
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Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips.
Connect with Last Week Tonight online...
Subscribe to the Last Week Tonight YouTube channel for more almost news as it almost happens: www.youtube.com/user/LastWeekTonight
Find Last Week Tonight on Facebook like your mom would:
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Visit our official site for all that other stuff at once:
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What is Fiduciary? | Definition of Fiduciary | Meaning of Fiduciary

What is Fiduciary? | Definition of Fiduciary | Meaning of Fiduciary: A fiduciary is a person who holds a legal or ethical relationship of trust with one or more...

What is Fiduciary? | Definition of Fiduciary | Meaning of Fiduciary: A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment.
Likewise, asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
— Lord Millett, Bristol and West Building Society v Mothew
A fiduciary duty is the highest standard of care in equity or law. A fiduciary is expected to be extremely loyal to the person to whom he owes the duty (the "principal") such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary (unless the principal consents). The nature of fiduciary obligations differs among jurisdictions. In Australia, only proscriptive or negative fiduciary obligations are recognised,:at p. 113 :at p. 198 whereas in Canada fiduciaries can come under both proscriptive and prescriptive (positive) fiduciary obligations.
In English common law, the fiduciary relation is an important concept within a part of the legal system known as equity. In theUnited Kingdom, the Judicature Acts merged the courts of equity(historically based in England'sCourt of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became applicable in common law courts.
When a fiduciary duty is imposed, equity requires a different, stricter standard of behavior than the comparable tortious duty of care in common law.
The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from his fiduciary position without knowledge and consent. A fiduciary ideally would not have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd" and that "he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty".
…………………………………………………………………………………..
Sources:
Text:
Text of this video has been taken from Wikipedia, which is available under the Creative Commons Attribution-ShareAlike License

What is Fiduciary? | Definition of Fiduciary | Meaning of Fiduciary: A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment.
Likewise, asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
— Lord Millett, Bristol and West Building Society v Mothew
A fiduciary duty is the highest standard of care in equity or law. A fiduciary is expected to be extremely loyal to the person to whom he owes the duty (the "principal") such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary (unless the principal consents). The nature of fiduciary obligations differs among jurisdictions. In Australia, only proscriptive or negative fiduciary obligations are recognised,:at p. 113 :at p. 198 whereas in Canada fiduciaries can come under both proscriptive and prescriptive (positive) fiduciary obligations.
In English common law, the fiduciary relation is an important concept within a part of the legal system known as equity. In theUnited Kingdom, the Judicature Acts merged the courts of equity(historically based in England'sCourt of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became applicable in common law courts.
When a fiduciary duty is imposed, equity requires a different, stricter standard of behavior than the comparable tortious duty of care in common law.
The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from his fiduciary position without knowledge and consent. A fiduciary ideally would not have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd" and that "he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty".
…………………………………………………………………………………..
Sources:
Text:
Text of this video has been taken from Wikipedia, which is available under the Creative Commons Attribution-ShareAlike License

Equity & Trusts - Charities

Charities are an interesting area of study because they bridge the gap between the private and public sector, providing help and assistance to those less well o...

Charities are an interesting area of study because they bridge the gap between the private and public sector, providing help and assistance to those less well off. Nevertheless this also means that charities need to be accountable and so there is a legislative regime around charities that includes the Charities Act 2011, case law and the Charity Commission.
The charitable trust must be exclusively charitable and so in Blair v Duncan [1902] the phrase "charitable or other purpose" was not allowed to stand. However the courts do take a broad and generous approach in this area as seen in Guild v IRC [1992] where there was an attempt to look at the intention of the charitable trust.
Charities, however, are not allowed to be political and the most famous case in this particular area is National Anti-Vivisection Society v IRC [1940] where it was found that an organisation attempting to change the law could not be charitable in nature. Nevertheless the courts again will take a wider view and look to an overall intention as can be seen with the RSPCA, Greenpeace and other major charities with a national profile.
Charities law has its origin in the Poor Law 1530 and the Statute of Elizabeth I 1601 but the modern formulation comes from Pemsel's case.
In the case of Pensel (1891) Lord McNaughten set out four charitable purposes:
Relief of poverty
Advancement of education
Advancement of religion
Other purposes beneficial to the community
This formulation is carried into the modern law with the fourth category being fleshed out in first the Charities Act 2006 and then in the consolidated Charities Act 2011.
When investigating charities there are two key ingredients to look for:
A charitable purpose under s. 3(1) Charities Act 2011
A public benefit under s. 4 Charities Act 2011 (including case law)
The first purpose under s. 3(1)(a) is the prevention or relief of poverty and poverty is given a general definition rather than anything scientific or precise. In Re Coulthurst’s WT [1951] the idea of 'going short' was floated. As per Dingle v Turner [1972] even if there is a connection between the charity and the person receiving the property this will still be allowed if there is a genuine charitable intention. This fact also means that there is no public benefit requirement under this heading and charities can be set up to help poor relatives (Re Scarisbrick [1951]).
Just because a charity has been set up this does not mean they are not allowed to pay employees or charge for services (Re Cottam [1955]), charge rent for accommodation (Re Estlin [1903]) or trade (ICLR v A-G [1972]).
S. 3(1)(b) concerns the advancement of education and again this is given a broad definition that goes beyond schools, colleges and universities.
According to Slade J in McGovern v A-G [1982] research is charitable if:
The subject matter is worthy of study
The knowledge will be made publicly available
There is a public benefit
Research cannot be politically motivated as per Re Shaw [1958] although questions could also be asked about the value of the research in Re Hopkins [1965].
For sports and education there normally has to be a link between the sport and a given education establishment (IRC v McMullen [1981]).
For the public benefit test it is important to look behind the charitable trust to the de facto situation. In IRC v Educational Grants Association [1967] a trust that only benefited employees of a certain company was not considered to be for the public benefit.
S. 3(1)(c) concerns the advancement of religion and the definition of religion has been expanded over time and now includes polytheism and religions where there is no God. This raises the question as to how religion should be defined and it is suggested that there should be some sort of belief in the supernatural and a code of conduct as to how to live your life. The religion should also be sufficiently serious.
Praying does not count as a public benefit because this has to be tangible although it is questionable how useful some of the public benefits are in cases such as Thornton v Howe [1862].
The other categories are:
(d) the advancement of health or the saving of lives;
(e) the advancement of citizenship or community development;
(f)the advancement of the arts, culture, heritage or science;
(g) the advancement of amateur sport;
(h) the advancement of human rights, conflict resolution or reconciliation or the promotion of religious or racial harmony or equality and diversity
(i) the advancement of environmental protection or improvement;
(j) the relief of those in need because of youth, age, ill-health, disability, financial hardship or other disadvantage
(k) the advancement of animal welfare
(l) the promotion of the efficiency of the armed forces of the Crown or of the efficiency of the police, fire and rescue services or ambulance services
The Charity Commission is responsible for deciding on genuine charitable purposes and for holding charities to account.

Charities are an interesting area of study because they bridge the gap between the private and public sector, providing help and assistance to those less well off. Nevertheless this also means that charities need to be accountable and so there is a legislative regime around charities that includes the Charities Act 2011, case law and the Charity Commission.
The charitable trust must be exclusively charitable and so in Blair v Duncan [1902] the phrase "charitable or other purpose" was not allowed to stand. However the courts do take a broad and generous approach in this area as seen in Guild v IRC [1992] where there was an attempt to look at the intention of the charitable trust.
Charities, however, are not allowed to be political and the most famous case in this particular area is National Anti-Vivisection Society v IRC [1940] where it was found that an organisation attempting to change the law could not be charitable in nature. Nevertheless the courts again will take a wider view and look to an overall intention as can be seen with the RSPCA, Greenpeace and other major charities with a national profile.
Charities law has its origin in the Poor Law 1530 and the Statute of Elizabeth I 1601 but the modern formulation comes from Pemsel's case.
In the case of Pensel (1891) Lord McNaughten set out four charitable purposes:
Relief of poverty
Advancement of education
Advancement of religion
Other purposes beneficial to the community
This formulation is carried into the modern law with the fourth category being fleshed out in first the Charities Act 2006 and then in the consolidated Charities Act 2011.
When investigating charities there are two key ingredients to look for:
A charitable purpose under s. 3(1) Charities Act 2011
A public benefit under s. 4 Charities Act 2011 (including case law)
The first purpose under s. 3(1)(a) is the prevention or relief of poverty and poverty is given a general definition rather than anything scientific or precise. In Re Coulthurst’s WT [1951] the idea of 'going short' was floated. As per Dingle v Turner [1972] even if there is a connection between the charity and the person receiving the property this will still be allowed if there is a genuine charitable intention. This fact also means that there is no public benefit requirement under this heading and charities can be set up to help poor relatives (Re Scarisbrick [1951]).
Just because a charity has been set up this does not mean they are not allowed to pay employees or charge for services (Re Cottam [1955]), charge rent for accommodation (Re Estlin [1903]) or trade (ICLR v A-G [1972]).
S. 3(1)(b) concerns the advancement of education and again this is given a broad definition that goes beyond schools, colleges and universities.
According to Slade J in McGovern v A-G [1982] research is charitable if:
The subject matter is worthy of study
The knowledge will be made publicly available
There is a public benefit
Research cannot be politically motivated as per Re Shaw [1958] although questions could also be asked about the value of the research in Re Hopkins [1965].
For sports and education there normally has to be a link between the sport and a given education establishment (IRC v McMullen [1981]).
For the public benefit test it is important to look behind the charitable trust to the de facto situation. In IRC v Educational Grants Association [1967] a trust that only benefited employees of a certain company was not considered to be for the public benefit.
S. 3(1)(c) concerns the advancement of religion and the definition of religion has been expanded over time and now includes polytheism and religions where there is no God. This raises the question as to how religion should be defined and it is suggested that there should be some sort of belief in the supernatural and a code of conduct as to how to live your life. The religion should also be sufficiently serious.
Praying does not count as a public benefit because this has to be tangible although it is questionable how useful some of the public benefits are in cases such as Thornton v Howe [1862].
The other categories are:
(d) the advancement of health or the saving of lives;
(e) the advancement of citizenship or community development;
(f)the advancement of the arts, culture, heritage or science;
(g) the advancement of amateur sport;
(h) the advancement of human rights, conflict resolution or reconciliation or the promotion of religious or racial harmony or equality and diversity
(i) the advancement of environmental protection or improvement;
(j) the relief of those in need because of youth, age, ill-health, disability, financial hardship or other disadvantage
(k) the advancement of animal welfare
(l) the promotion of the efficiency of the armed forces of the Crown or of the efficiency of the police, fire and rescue services or ambulance services
The Charity Commission is responsible for deciding on genuine charitable purposes and for holding charities to account.

Fiduciary

A fiduciary is a legal or ethical relationship of trust between two or more parties. Typically, a fiduciary prudently takes care of money for another person. On...

A fiduciary is a legal or ethical relationship of trust between two or more parties. Typically, a fiduciary prudently takes care of money for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
This video is targeted to blind users.
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Article text available under CC-BY-SACreative Commons image source in video

A fiduciary is a legal or ethical relationship of trust between two or more parties. Typically, a fiduciary prudently takes care of money for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
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An interview with John C. Bogle, the founder and former CEO of The Vanguard Group. In this interview John discusses actively managed funds and index, arguing why index are superior. John also covers what the non professional should do with his money to get the best investment. 📚 Books by John Bogle and his favourite books are located at the bottom of the description❗
Like if you enjoyed
Subscribe for more:http://bit.ly/InvestorsArchive
Follow us on twitter:http://bit.ly/TwitterIA
VideoSegments:
0:00 Introduction
0:24 What was Vanguard like in 1974?
4:23 Are there people trying to confuse others?
5:26 Diminishment of long term investing
6:36 Anything good about trading?
7:09 What motivating high turnover in portfolio?
8:23 Any active managers doing the right thing?
10:53 How does a index fund work?
12:25 Is weighting by capitalisation a bad idea?
15:14 How many funds should a individual own?
20:09 Are you 84% in bonds?
22:30 Financial advice business
28:10 Fiduciary vs Salesman
32:44 When should a individual buy stocks
38:56 Have you ever bought individual stocks?
39:52 Appropriate amount of time to hold a bad investment
42:44 When should someone own a load fund?
44:00 Unified fiduciary standard?
46:11 Cultural features of Vanguard?
51:11 Lessons in succession
52:51 Optimistic for the future of Vanguard?
55:52 How are you spending your time now?
John Bogle books 🇺🇸📈 (affiliate link)
The Little Book of Common Sense Investing:http://bit.ly/BookOfCommonSense
Common Sense on Mutual Funds:http://bit.ly/CommonSenseMutualFunds
Enough:http://bit.ly/EnoughJB
The Clash of the Cultures:http://bit.ly/ClashofCulture
John Bogle’s Favourite Books🔥
The Intelligent Investor:http://bit.ly/TIIBG
A RandomWalkDownWall Street:http://bit.ly/ARandomWalk
InterviewDate: 19th November2013Event: Motley FoolSpecial Interview
OriginalImageSource:http://bit.ly/JCBogle
Investors Archive has videos of all the Investing/Business/Economic/Finance masters. Learn from their wisdom for free in one place.
For more check out the channel.
Remember to subscribe, share, comment and like!
No advertising.

An interview with John C. Bogle, the founder and former CEO of The Vanguard Group. In this interview John discusses actively managed funds and index, arguing why index are superior. John also covers what the non professional should do with his money to get the best investment. 📚 Books by John Bogle and his favourite books are located at the bottom of the description❗
Like if you enjoyed
Subscribe for more:http://bit.ly/InvestorsArchive
Follow us on twitter:http://bit.ly/TwitterIA
VideoSegments:
0:00 Introduction
0:24 What was Vanguard like in 1974?
4:23 Are there people trying to confuse others?
5:26 Diminishment of long term investing
6:36 Anything good about trading?
7:09 What motivating high turnover in portfolio?
8:23 Any active managers doing the right thing?
10:53 How does a index fund work?
12:25 Is weighting by capitalisation a bad idea?
15:14 How many funds should a individual own?
20:09 Are you 84% in bonds?
22:30 Financial advice business
28:10 Fiduciary vs Salesman
32:44 When should a individual buy stocks
38:56 Have you ever bought individual stocks?
39:52 Appropriate amount of time to hold a bad investment
42:44 When should someone own a load fund?
44:00 Unified fiduciary standard?
46:11 Cultural features of Vanguard?
51:11 Lessons in succession
52:51 Optimistic for the future of Vanguard?
55:52 How are you spending your time now?
John Bogle books 🇺🇸📈 (affiliate link)
The Little Book of Common Sense Investing:http://bit.ly/BookOfCommonSense
Common Sense on Mutual Funds:http://bit.ly/CommonSenseMutualFunds
Enough:http://bit.ly/EnoughJB
The Clash of the Cultures:http://bit.ly/ClashofCulture
John Bogle’s Favourite Books🔥
The Intelligent Investor:http://bit.ly/TIIBG
A RandomWalkDownWall Street:http://bit.ly/ARandomWalk
InterviewDate: 19th November2013Event: Motley FoolSpecial Interview
OriginalImageSource:http://bit.ly/JCBogle
Investors Archive has videos of all the Investing/Business/Economic/Finance masters. Learn from their wisdom for free in one place.
For more check out the channel.
Remember to subscribe, share, comment and like!
No advertising.

GAMLLCs Greg Rhinehardt and Bernard, Robinson & Company, LLPs KyleCorum cover some common misconceptions many plan sponsors have about their retirement plan at the 2017 NC Fiduciary Summit.
Past performance is not indicative of future results. The opinions expressed are those of GordonAsset Management, LLC (GAM). The opinions referenced are as of the date of publication and are subject to change without notice. This material is for informational purposes only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a security, to adopt a particular investment strategy or strategies, or to invest in any particular sector. Forward-looking statements are not guaranteed. GAM reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. There is no guarantee that the assessment of investments discussed herein will be accurate. The discussions, outlook, and viewpoints featured are not intended to be investment advice and do not take into account specific client objectives. Before investing, an investor should consider his or her investment goals and risk comfort levels. There is no guarantee that GAM’s strategies or recommendations will equal or exceed expectations discussed. Investors should not rely solely on this information or performance illustrations when making investment decisions. Diversification does not guarantee investment returns and does not eliminate the risk of loss. Material presented has been derived from sources believed to be reliable, but the completeness and accuracy cannot be guaranteed. Any examples used in this material are generic, hypothetical and for illustration purposes only. The visuals shown in this video are for illustrative purposes only and do not reflect trading in actual accounts. The illustrations showing hypothetical compounding calculations are not intended to serve as a projection or predictor of the investment results of any specific investment. Portfolio characteristics, client restrictions, and market conditions could impact performance. These estimated calculations do not reflect the deduction of fees incurred in the management of the account and, therefore, the assumed ending saved amount could be different. The illustrations showing hypothetical compounding calculations are not intended to serve as a projection or predictor of the investment results of any specific investment. Portfolio characteristics, client restrictions, and market conditions could impact performance. Nothing in this listing constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to individual circumstances, or otherwise constitutes a personal recommendation to any specific investor. (INDEX) The S&P 500 Index is widely regarded as the best single gauge of the U.S. equities market. This world-renowned index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The MSCIEmerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. As of June 2007, the MSCI Emerging Markets Index consisted of the following 25 emerging market country indices: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Jordan, Korea, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey. The BarclaysCapital U.S. Aggregate Index represents securities that are SEC-registered, taxable and dollar denominated. The index covers the U.S. investment-grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities and asset-backed securities. These major sectors are subdivided into more specific indexes that are calculated and reported on a regular basis. The volatility (beta) of an account may be greater or less than an index. It is not possible to invest directly in an index. Gordon Asset Management is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training. More information about the adviser, its investment strategies and objectives is included in the firm’s FormADV, which can be obtained, at no charge, by calling (866) 216-1920. The principle office of Gordon Asset Management, LLC is located at 1007 Slater Road, Suite 200, Durham, North Carolina, 27703.
This presentation was filmed for release in -- 2017. The comments expressed in this video segment are those of Gordon Asset Management, LLC (GAM LLC), are as of the date of release, and are subject to change without notice.

GAMLLCs Greg Rhinehardt and Bernard, Robinson & Company, LLPs KyleCorum cover some common misconceptions many plan sponsors have about their retirement plan at the 2017 NC Fiduciary Summit.
Past performance is not indicative of future results. The opinions expressed are those of GordonAsset Management, LLC (GAM). The opinions referenced are as of the date of publication and are subject to change without notice. This material is for informational purposes only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a security, to adopt a particular investment strategy or strategies, or to invest in any particular sector. Forward-looking statements are not guaranteed. GAM reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. There is no guarantee that the assessment of investments discussed herein will be accurate. The discussions, outlook, and viewpoints featured are not intended to be investment advice and do not take into account specific client objectives. Before investing, an investor should consider his or her investment goals and risk comfort levels. There is no guarantee that GAM’s strategies or recommendations will equal or exceed expectations discussed. Investors should not rely solely on this information or performance illustrations when making investment decisions. Diversification does not guarantee investment returns and does not eliminate the risk of loss. Material presented has been derived from sources believed to be reliable, but the completeness and accuracy cannot be guaranteed. Any examples used in this material are generic, hypothetical and for illustration purposes only. The visuals shown in this video are for illustrative purposes only and do not reflect trading in actual accounts. The illustrations showing hypothetical compounding calculations are not intended to serve as a projection or predictor of the investment results of any specific investment. Portfolio characteristics, client restrictions, and market conditions could impact performance. These estimated calculations do not reflect the deduction of fees incurred in the management of the account and, therefore, the assumed ending saved amount could be different. The illustrations showing hypothetical compounding calculations are not intended to serve as a projection or predictor of the investment results of any specific investment. Portfolio characteristics, client restrictions, and market conditions could impact performance. Nothing in this listing constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to individual circumstances, or otherwise constitutes a personal recommendation to any specific investor. (INDEX) The S&P 500 Index is widely regarded as the best single gauge of the U.S. equities market. This world-renowned index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The MSCIEmerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. As of June 2007, the MSCI Emerging Markets Index consisted of the following 25 emerging market country indices: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Jordan, Korea, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey. The BarclaysCapital U.S. Aggregate Index represents securities that are SEC-registered, taxable and dollar denominated. The index covers the U.S. investment-grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities and asset-backed securities. These major sectors are subdivided into more specific indexes that are calculated and reported on a regular basis. The volatility (beta) of an account may be greater or less than an index. It is not possible to invest directly in an index. Gordon Asset Management is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training. More information about the adviser, its investment strategies and objectives is included in the firm’s FormADV, which can be obtained, at no charge, by calling (866) 216-1920. The principle office of Gordon Asset Management, LLC is located at 1007 Slater Road, Suite 200, Durham, North Carolina, 27703.
This presentation was filmed for release in -- 2017. The comments expressed in this video segment are those of Gordon Asset Management, LLC (GAM LLC), are as of the date of release, and are subject to change without notice.

In this “EquityShort” Dr. Tribe considers a breach of fiduciary duty and the use of a constructive trust in IDC v. Cooley. Filmed on location outside Ainscough FlourMill in Burscough, West Lancashire, Dr. Tribe shows how an architect breached his fiduciary duty and that a constructive trust was therefore used by Roskill, J (as he then was) to ensure that Cooley did not take a corporate opportunity, something that would have been a breach of his fiduciary duty to the company.
Twitter:
@elearninglpool

3:31

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY definition - How to pronounce FIDUCIARY

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY definition - How to pronounce FIDUCIARY

What is FIDUCIARY? FIDUCIARY meaning - FIDUCIARY pronunciation - FIDUCIARY definition - FIDUCIARY explanation - How to pronounce FIDUCIARY?
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
—?Lord Millett, Bristol and West Building Society v Mothew
A fiduciary duty is the highest standard of care at either equity or law. A fiduciary (abbreviation fid) is expected to be extremely loyal to the person to whom he owes the duty (the "principal"): such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary (unless the principal consents). The nature of fiduciary obligations differ among jurisdictions. In Australia, only proscriptive or negative fiduciary obligations are recognised, whereas in Canada fiduciaries can come under both proscriptive and prescriptive (positive) fiduciary obligations.
In English common law, the fiduciary relation is an important concept within a part of the legal system known as equity. In theUnited Kingdom, the Judicature Acts merged the courts of equity (historically based in England'sCourt of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became applicable in common law courts.
When a fiduciary duty is imposed, equity requires a different, stricter, standard of behavior than the comparable tortious duty of care at common law. The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from his fiduciary position without knowledge and consent. A fiduciary ideally would not have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd" and that "he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty".

Filmed on location outside AnfieldFootball Stadium, this “EquityShort” features Dr. Tribe discussing this key authority on the deployment of constructive trusts in the context of a breach of a fiduciary duty owed to a company. Dr. Tribe demonstrates how the diversion of a potential corporate opportunity could give rise to the use of a constructive trust.
Twitter:
@elearninglpool

12:25

Equity & Trusts - Three Certainties: Objects

Certainty of objects is more about the people who are the beneficiaries of a trust instrum...

Equity & Trusts - Three Certainties: Objects

Certainty of objects is more about the people who are the beneficiaries of a trust instrument rather than the physical objects that make up a trust.
We have to examine the different types of trust:
Fixed trusts are simple because they clearly identify the beneficiaries.
Fiduciary mere powers give trustees a power without the obligation to actually use that power. As far as the certainty of objects is concerned we have the is or is not test from Re Gulbenkian [1968] but this raises problems around a small percentage of postulants where there is uncertainty. Lord Browne-Wilkinson attempted to resolve this in Re. Barlow [1979] by seeing the benefits as a series of identical, individual gifts.
Discretionary trusts are not truly discretionary as they require a trustee to exercise their power. McPhail v Doulton [1975] applied the is or is not test but in Re. Baden (No. 2) [1973] the justices attempted to resolve the uncertainty issue:
Sachs LJ: Onus is on the apparent beneficiary
Megaw LJ: Trust can still be valid with minor uncertainties
Holders of personal powers are not subject to a fiduciary duty and so certainty of objects does not apply; Megarry VC in Re. Hay’s ST [1981].
There are some grey phrases and areas of language worth examining closely:
'Friends'
Generally uncertain; Brown v Gould [1972]
BUT Re. Baden (No. 2) [1973]
'Customers'
Uncertain; Sparfax v Dommett [1972]
'Relatives'
Statutory next of kin; McPhail v Doulton [1970]
There are also ways of resolving uncertainty:
Using experts
Re. Tuck’s ST [1978]
Rules that set out how to define beneficiaries
Re. Wright’s WT [1857]
Administratively workable
Re. Hay’s ST [1982]
There also has to be consideration of partial failure of trusts on grounds of uncertainty:
Generally where a trust partially fails the whole trust fails
Re. Gulbenkian [1968]
Remove the uncertain clause of the instrument
Re. Leek [1969]
Courts will always try to validate a trust where possible to do so
Harman J in Re. Gestetner [1953]

13:28

Equity Short: Mcphail v. Doulton

Filmed on location on the roof of the Royal Liver Building (RLB) and in the boardroom of t...

Equity Short: Mcphail v. Doulton

Filmed on location on the roof of the Royal Liver Building (RLB) and in the boardroom of the RLB this video examines the nature of discretionary trusts. In particular we focus on a fictitious trust where the objects are the “inhabitants of Merseyside” What does this mean and how can we say with sufficient certainty that an object is such a resident. We then explore other related terms of art such as employee, friend, etc in the context of McPhail and the court's’ method for answering such questions.
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@elearninglpool

indian trust act by ca dhruv agrawal

CA Dhruv Agrawal,B.com.,LLB,FCA,CS,AIIA(USA) Co chairman Interntional Council of jurists,London , has a unique distinction of qualifying Chartered Accountancy at the youngest age of nineteen years. He was instrumental in getting amendment for the CA Act in Parliament in 1988. He was invited by ministry of law of Thailand for making judiciary of Thailand independent along with advocate generals and other legal personalities of India and has the privilege of addressing Thailand's legal personalities in front of king of Thailand. He has been awaded scroll of Honour by Chief Justice of UK in 2009.

What is Fiduciary Litigation? Answered as a Short Story

In this 4-minute funny cartoon video, Gaslowitz Frankel LLChttp://www.GaslowitzFrankel.com explains the meaning of the services it provides and how it is valuable to you. Read the full script below:
Most of us own things like cars, houses, stock, as well as life insurance or retirement accounts. They are referred to as assets. When we pass away, these assets are known as our estate.
Usually, people choose to leave their estate to family and friends. To identify who gets what, they write wills or create trusts.
Whoever gets a share of an estate or trust is called a beneficiary. The person appointed to transfer an estate or trust to the beneficiaries is called an executor or a trustee.
MeetNancy Smith and her brothers, John and David. After their mom passed away, Nancy and John helped take care of their elderly father as much as they could. They both lived out of town and had families and full-time jobs. David was single and lived close to their Dad. He did not have a stable job, so Dad helped support him and pay his bills. With age, Dad's memory got worse and he began to rely on David more and more. Eventually, David got their father to sign a power of attorney, which enabled him to authorize Dad's checks and even transfer some of his assets.
After Dad died, it turned out that David was named the Executor of the will, so he was responsible for collecting all of Dad's property and distributing his estate to all the beneficiaries. When Nancy and John asked David what was in the estate, he just ignored them.
Eventually, David became impossible to communicate with. Though the will appeared to leave the estate to the three of them equally, David said there were almost no assets left at the time of Dad's death. Now, Nancy and John were not only grieving the loss of their father -- they were also alarmed by their brother's secretive behavior.
After talking to a friend, Nancy discovered that there was a litigation law firm called Gaslowitz Frankel LLC that specialized in helping people protect their inheritance rights.
John's company lawyer mentioned the same law firm as being one of the country's best at solving estate and trust litigation problems.
A quick Internet search revealed that Gaslowitz Frankel LLC was selected a Best Law Firm in Georgia in Trust and Estate Litigation, and Adam Gaslowitz and Craig Frankel have been widely recognized by their peers and the media as leaders in trust and estate litigation. Adam Gaslowitz also was listed in the Guide to the World's Leading Trust and Estate Litigators.
For over 25 years attorneys at Gaslowitz Frankel LLC have specialized in a very unique area of law -- fiduciary litigation: will, estate, and trust disputes.
Nancy and John realized that to have the law work for them, they needed a lawyer who specialized in fiduciary litigation. They called Gaslowitz Frankel LLC and shared their problem with an attorney who listened and understood.
They learned that David had a fiduciary duty, a legal responsibility, to them, and that there were laws to protect their inheritance rights. Hiring Gaslowitz Frankel LLC gave them peace of mind and confidence that the best attorneys were protecting their rights.
David was forced to account for all of the assets in Dad's estate, though he had already spent some of them. He was also removed as Executor to prevent further losses, and remaining assets were distributed appropriately. While happy with the outcome, Nancy and John regretted not hiring Gaslowitz Frankel LLC sooner, before David had the chance to take advantage of their father.
If you ever have a dispute over a will or trust, either as an executor, trustee, or beneficiary, become involved in a contested guardianship or conservatorship, discover an abuse of a power of attorney, or face a business or financial dispute among partners, shareholders, or investors, call Gaslowitz Frankel LLC at 404-892-9797. The sooner you act, the better!
For more information visit:
www.GaslowitzFrankel.com
twitter.com/EstateDispute
facebook.com/EstateDispute

20:03

Introduction to Trusts Law

At their heart trusts are simply a way of more than one person owning property. It has bee...

Introduction to Trusts Law

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in the 12th century.
Within a trust there is a settlor who commences the trust and originally has absolute ownership. Ownership then splits between a trustee who takes legal title and a beneficiary who takes an equitable interest.
There are three different types of trust: express, resulting and constructive trusts.
Express trusts are set out in agreements. Resulting trusts are implied by the court where either the beneficiaries are not clearly defined by an agreement or where a contribution has been made towards the purchase price of property. Constructive trusts exist in order to prevent wrongdoing and abuse of the fiduciary duty.
The different formats of a trust are bare trusts and fixed trusts (for a set number of beneficiaries) and discretionary trusts where the trustee has an active role in making decisions based on an uncertain future.
Trusts are used in a variety of situations such as wills, in business and even for tax avoidance purposes.
They have played a significant role in popular culture in books such as Pride and Prejudice by Jane Austen, Bleak House by Charles Dickens and Pamela by Samuel Richardson.

3:20

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning

What is EQUITABLE REMEDY? What does EQUITABLE REMEDY mean? EQUITABLE REMEDY meaning - EQUITABLE REMEDY definition - EQUITABLE REMEDY explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VII to provide more flexible responses to changing social conditions than was possible in precedent-based common law.
Equitable remedies were granted by the Court of Chancery in England, and remain available today in most common law jurisdictions. In many jurisdictions, legal and equitable remedies have been merged and a single court can issue either, or both, remedies. Despite widespread judicial merger, the distinction between equitable and legal remedies remains relevant in a number of significant instances. Notably, the United States Constitution'sSeventh Amendment preserves the right to a jury, trial rights in civil cases over $20 to cases "at common law".
The distinction between types of relief granted by the courts is due to the courts of equity, such as the Court of Chancery in England, and still available today in common law jurisdictions. Equity is said to operate on the conscience of the defendant, so an equitable remedy is always directed at a particular person, and that person's knowledge, state of mind and motives may be relevant to whether a remedy should be granted or not.
Equitable remedies are distinguished from "legal" remedies (which are available to a successful claimant as of right) by the discretion of the court to grant them. In common law jurisdictions, there are a variety of equitable remedies, but the principal remedies are:
injunction; specific performance; account of profits; rescission; declaratory relief; rectification; equitable estoppel; certain proprietary remedies, such as constructive trusts; subrogation; in very specific circumstances, an equitable lien; equitable compensation; Appointment or removal of fiduciary; Interpleader.
The two main equitable remedies are injunctions and specific performance, and in casual legal parlance references to equitable remedies are often expressed as referring to those two remedies alone. Injunctions may be mandatory (requiring a person to do something) or prohibitory (stopping them doing something). Specific performance requires a party to perform a contract, for example by transferring a piece of land to the claimant. The award of specific performance requires that the two following criteria must be satisfied: (i) Common law damages must be an inadequate remedy. For instance, when damages for a breach of contract found in favour of a third party are an inadequate remedy. (ii) No bars to equitable relief prevent specific performance. A bar to relief arises for example, when the court's continuous supervision of the defendant is not feasible.

21:30

Retirement Plans: Last Week Tonight with John Oliver (HBO)

Saving for retirement means navigating a potential minefield of high fees and bad advice. ...

Retirement Plans: Last Week Tonight with John Oliver (HBO)

Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips.
Connect with Last Week Tonight online...
Subscribe to the Last Week Tonight YouTube channel for more almost news as it almost happens: www.youtube.com/user/LastWeekTonight
Find Last Week Tonight on Facebook like your mom would:
http://Facebook.com/LastWeekTonight
Follow us on Twitter for news about jokes and jokes about news:
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Visit our official site for all that other stuff at once:
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6:19

Equity Short: IRC v. Broadway Cottages Trusts

Fixed trusts and distribution amongst objects makes up the subject matter of this next aut...

Equity Short: Barclays Bank v. Quistclose Investments Ltd

Filmed on location at the Royal Liver Building in the Company Secretary’s office, this case is used to illustrate the deployment of trusts in a commercial environment. The case is very important particularly when considering how trusts might be used in the commercial context to outfox the general body of creditors. In this case we see the deployment of a purpose trust, i.e. if money is lent for a specific purpose and it is not used for that purpose (i.e. paying a dividend) then the interest in the money will remain with the lender. This therefore removes the money from the company’s estate meaning it is not available for the general body of creditors.
More to come. Click to subscribe.
Twitter:
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indian trust act by ca dhruv agrawal

CA Dhruv Agrawal,B.com.,LLB,FCA,CS,AIIA(USA) Co chairman Interntional Council of jurists,London , has a unique distinction of qualifying Chartered Accountancy at the youngest age of nineteen years. He was instrumental in getting amendment for the CA Act in Parliament in 1988. He was invited by ministry of law of Thailand for making judiciary of Thailand independent along with advocate generals and other legal personalities of India and has the privilege of addressing Thailand's legal personalities in front of king of Thailand. He has been awaded scroll of Honour by Chief Justice of UK in 2009.

20:03

Introduction to Trusts Law

At their heart trusts are simply a way of more than one person owning property. It has bee...

Introduction to Trusts Law

At their heart trusts are simply a way of more than one person owning property. It has been suggested that they originate from knights who went on crusades in the 12th century.
Within a trust there is a settlor who commences the trust and originally has absolute ownership. Ownership then splits between a trustee who takes legal title and a beneficiary who takes an equitable interest.
There are three different types of trust: express, resulting and constructive trusts.
Express trusts are set out in agreements. Resulting trusts are implied by the court where either the beneficiaries are not clearly defined by an agreement or where a contribution has been made towards the purchase price of property. Constructive trusts exist in order to prevent wrongdoing and abuse of the fiduciary duty.
The different formats of a trust are bare trusts and fixed trusts (for a set number of beneficiaries) and discretionary trusts where the trustee has an active role in making decisions based on an uncertain future.
Trusts are used in a variety of situations such as wills, in business and even for tax avoidance purposes.
They have played a significant role in popular culture in books such as Pride and Prejudice by Jane Austen, Bleak House by Charles Dickens and Pamela by Samuel Richardson.

21:30

Retirement Plans: Last Week Tonight with John Oliver (HBO)

Saving for retirement means navigating a potential minefield of high fees and bad advice. ...

Retirement Plans: Last Week Tonight with John Oliver (HBO)

Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips.
Connect with Last Week Tonight online...
Subscribe to the Last Week Tonight YouTube channel for more almost news as it almost happens: www.youtube.com/user/LastWeekTonight
Find Last Week Tonight on Facebook like your mom would:
http://Facebook.com/LastWeekTonight
Follow us on Twitter for news about jokes and jokes about news:
http://Twitter.com/LastWeekTonight
Visit our official site for all that other stuff at once:
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29:22

What is Fiduciary? | Definition of Fiduciary | Meaning of Fiduciary

What is Fiduciary? | Definition of Fiduciary | Meaning of Fiduciary: A fiduciary is a pers...

What is Fiduciary? | Definition of Fiduciary | Meaning of Fiduciary

What is Fiduciary? | Definition of Fiduciary | Meaning of Fiduciary: A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment.
Likewise, asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
— Lord Millett, Bristol and West Building Society v Mothew
A fiduciary duty is the highest standard of care in equity or law. A fiduciary is expected to be extremely loyal to the person to whom he owes the duty (the "principal") such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary (unless the principal consents). The nature of fiduciary obligations differs among jurisdictions. In Australia, only proscriptive or negative fiduciary obligations are recognised,:at p. 113 :at p. 198 whereas in Canada fiduciaries can come under both proscriptive and prescriptive (positive) fiduciary obligations.
In English common law, the fiduciary relation is an important concept within a part of the legal system known as equity. In theUnited Kingdom, the Judicature Acts merged the courts of equity(historically based in England'sCourt of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became applicable in common law courts.
When a fiduciary duty is imposed, equity requires a different, stricter standard of behavior than the comparable tortious duty of care in common law.
The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from his fiduciary position without knowledge and consent. A fiduciary ideally would not have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd" and that "he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty".
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27:37

Equity & Trusts - Charities

Charities are an interesting area of study because they bridge the gap between the private...

Equity & Trusts - Charities

Charities are an interesting area of study because they bridge the gap between the private and public sector, providing help and assistance to those less well off. Nevertheless this also means that charities need to be accountable and so there is a legislative regime around charities that includes the Charities Act 2011, case law and the Charity Commission.
The charitable trust must be exclusively charitable and so in Blair v Duncan [1902] the phrase "charitable or other purpose" was not allowed to stand. However the courts do take a broad and generous approach in this area as seen in Guild v IRC [1992] where there was an attempt to look at the intention of the charitable trust.
Charities, however, are not allowed to be political and the most famous case in this particular area is National Anti-Vivisection Society v IRC [1940] where it was found that an organisation attempting to change the law could not be charitable in nature. Nevertheless the courts again will take a wider view and look to an overall intention as can be seen with the RSPCA, Greenpeace and other major charities with a national profile.
Charities law has its origin in the Poor Law 1530 and the Statute of Elizabeth I 1601 but the modern formulation comes from Pemsel's case.
In the case of Pensel (1891) Lord McNaughten set out four charitable purposes:
Relief of poverty
Advancement of education
Advancement of religion
Other purposes beneficial to the community
This formulation is carried into the modern law with the fourth category being fleshed out in first the Charities Act 2006 and then in the consolidated Charities Act 2011.
When investigating charities there are two key ingredients to look for:
A charitable purpose under s. 3(1) Charities Act 2011
A public benefit under s. 4 Charities Act 2011 (including case law)
The first purpose under s. 3(1)(a) is the prevention or relief of poverty and poverty is given a general definition rather than anything scientific or precise. In Re Coulthurst’s WT [1951] the idea of 'going short' was floated. As per Dingle v Turner [1972] even if there is a connection between the charity and the person receiving the property this will still be allowed if there is a genuine charitable intention. This fact also means that there is no public benefit requirement under this heading and charities can be set up to help poor relatives (Re Scarisbrick [1951]).
Just because a charity has been set up this does not mean they are not allowed to pay employees or charge for services (Re Cottam [1955]), charge rent for accommodation (Re Estlin [1903]) or trade (ICLR v A-G [1972]).
S. 3(1)(b) concerns the advancement of education and again this is given a broad definition that goes beyond schools, colleges and universities.
According to Slade J in McGovern v A-G [1982] research is charitable if:
The subject matter is worthy of study
The knowledge will be made publicly available
There is a public benefit
Research cannot be politically motivated as per Re Shaw [1958] although questions could also be asked about the value of the research in Re Hopkins [1965].
For sports and education there normally has to be a link between the sport and a given education establishment (IRC v McMullen [1981]).
For the public benefit test it is important to look behind the charitable trust to the de facto situation. In IRC v Educational Grants Association [1967] a trust that only benefited employees of a certain company was not considered to be for the public benefit.
S. 3(1)(c) concerns the advancement of religion and the definition of religion has been expanded over time and now includes polytheism and religions where there is no God. This raises the question as to how religion should be defined and it is suggested that there should be some sort of belief in the supernatural and a code of conduct as to how to live your life. The religion should also be sufficiently serious.
Praying does not count as a public benefit because this has to be tangible although it is questionable how useful some of the public benefits are in cases such as Thornton v Howe [1862].
The other categories are:
(d) the advancement of health or the saving of lives;
(e) the advancement of citizenship or community development;
(f)the advancement of the arts, culture, heritage or science;
(g) the advancement of amateur sport;
(h) the advancement of human rights, conflict resolution or reconciliation or the promotion of religious or racial harmony or equality and diversity
(i) the advancement of environmental protection or improvement;
(j) the relief of those in need because of youth, age, ill-health, disability, financial hardship or other disadvantage
(k) the advancement of animal welfare
(l) the promotion of the efficiency of the armed forces of the Crown or of the efficiency of the police, fire and rescue services or ambulance services
The Charity Commission is responsible for deciding on genuine charitable purposes and for holding charities to account.

Fiduciary

A fiduciary is a legal or ethical relationship of trust between two or more parties. Typically, a fiduciary prudently takes care of money for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers—including managers of pension plans, endowments and other tax-exempt assets—are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
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John Bogle: Investing in Index Funds and Vanguard

An interview with John C. Bogle, the founder and former CEO of The Vanguard Group. In this interview John discusses actively managed funds and index, arguing why index are superior. John also covers what the non professional should do with his money to get the best investment. 📚 Books by John Bogle and his favourite books are located at the bottom of the description❗
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VideoSegments:
0:00 Introduction
0:24 What was Vanguard like in 1974?
4:23 Are there people trying to confuse others?
5:26 Diminishment of long term investing
6:36 Anything good about trading?
7:09 What motivating high turnover in portfolio?
8:23 Any active managers doing the right thing?
10:53 How does a index fund work?
12:25 Is weighting by capitalisation a bad idea?
15:14 How many funds should a individual own?
20:09 Are you 84% in bonds?
22:30 Financial advice business
28:10 Fiduciary vs Salesman
32:44 When should a individual buy stocks
38:56 Have you ever bought individual stocks?
39:52 Appropriate amount of time to hold a bad investment
42:44 When should someone own a load fund?
44:00 Unified fiduciary standard?
46:11 Cultural features of Vanguard?
51:11 Lessons in succession
52:51 Optimistic for the future of Vanguard?
55:52 How are you spending your time now?
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GAMLLCs Greg Rhinehardt and Bernard, Robinson & Company, LLPs KyleCorum cover some common misconceptions many plan sponsors have about their retirement plan at the 2017 NC Fiduciary Summit.
Past performance is not indicative of future results. The opinions expressed are those of GordonAsset Management, LLC (GAM). The opinions referenced are as of the date of publication and are subject to change without notice. This material is for informational purposes only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a security, to adopt a particular investment strategy or strategies, or to invest in any particular sector. Forward-looking statements are not guaranteed. GAM reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. There is no guarantee that the assessment of investments discussed herein will be accurate. The discussions, outlook, and viewpoints featured are not intended to be investment advice and do not take into account specific client objectives. Before investing, an investor should consider his or her investment goals and risk comfort levels. There is no guarantee that GAM’s strategies or recommendations will equal or exceed expectations discussed. Investors should not rely solely on this information or performance illustrations when making investment decisions. Diversification does not guarantee investment returns and does not eliminate the risk of loss. Material presented has been derived from sources believed to be reliable, but the completeness and accuracy cannot be guaranteed. Any examples used in this material are generic, hypothetical and for illustration purposes only. The visuals shown in this video are for illustrative purposes only and do not reflect trading in actual accounts. The illustrations showing hypothetical compounding calculations are not intended to serve as a projection or predictor of the investment results of any specific investment. Portfolio characteristics, client restrictions, and market conditions could impact performance. These estimated calculations do not reflect the deduction of fees incurred in the management of the account and, therefore, the assumed ending saved amount could be different. The illustrations showing hypothetical compounding calculations are not intended to serve as a projection or predictor of the investment results of any specific investment. Portfolio characteristics, client restrictions, and market conditions could impact performance. Nothing in this listing constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to individual circumstances, or otherwise constitutes a personal recommendation to any specific investor. (INDEX) The S&P 500 Index is widely regarded as the best single gauge of the U.S. equities market. This world-renowned index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 Index focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. The MSCIEmerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. As of June 2007, the MSCI Emerging Markets Index consisted of the following 25 emerging market country indices: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Jordan, Korea, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey. The BarclaysCapital U.S. Aggregate Index represents securities that are SEC-registered, taxable and dollar denominated. The index covers the U.S. investment-grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities and asset-backed securities. These major sectors are subdivided into more specific indexes that are calculated and reported on a regular basis. The volatility (beta) of an account may be greater or less than an index. It is not possible to invest directly in an index. Gordon Asset Management is an SEC-registered investment adviser. Registration does not imply a certain level of skill or training. More information about the adviser, its investment strategies and objectives is included in the firm’s FormADV, which can be obtained, at no charge, by calling (866) 216-1920. The principle office of Gordon Asset Management, LLC is located at 1007 Slater Road, Suite 200, Durham, North Carolina, 27703.
This presentation was filmed for release in -- 2017. The comments expressed in this video segment are those of Gordon Asset Management, LLC (GAM LLC), are as of the date of release, and are subject to change without notice.

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